Martin’s Properties has completed on the purchase of Merchants Hall, a 10,000 sq ft site in Islington, N1, from Northhill for around £14m.
The investment and development company intends to create a mixed-use scheme of modern office space of up to 21,100 sq ft, alongside three new private flats.
Construction is scheduled to begin in early 2017.
Tom Martin, managing director of Martin’s Properties, said: “We appreciate the history of the building and we will work with architects to create a sustainable, well-designed scheme to enhance the local environment.
“This investment shows Martin’s Properties’ ambition as we continue to grow and look forward to more purchases in 2016.”
The vendor was represented by Shaun Simons at Hatton Real Estate and Jonathan Vanstone Walker at TCP; Ryan Springer at Springer Nicholas represented Martin’s Properties.
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