Hunting Gate Developments have submitted an outline planning application to redevelop 259 City Road, EC1, as 140,000 sq ft of offices.
At present the site proposed for the £40m scheme is occupied by a 42,000-sq ft building let to Modern Alarms. Hunting Gate hold a 111-year lease on the site from freeholders British Waterways Board and can break the remaining five years of the tenants’ lease at any time.
“But any decision to redevelop the site once we have got planning permission will depend on the state of the City office market at the time,” comments director Philip Clarke. “Ideally we would like to prelet the development as soon as possible so that we can tailor it to the tenants’ needs.”
St Quintin are letting agents. Architects are Damond Lock, Grabowski & Partners.
