Plans for City North Group’s 120,000 sq ft office development at One City Road, EC1Y, have been given the go-ahead by Islington council. The £65m scheme, designed by architect Sheppard Robson, will retain the Grade II listed facade of Lowndes House. Michael Sherley-Dale, City North’s group managing director, said: “We won’t start work on this site unless we have a prelet, and it is unlikely to get built at anything less than £35 per sq ft.” City North bought the derelict car park in 1999 for £5.75m, and Lowndes House the next year for £6m. Development costs for the scheme are likely to be around £24m. DTZ provided planning advice.
Plans for City North Group’s 120,000 sq ft office development at One City Road, EC1Y, have been given the go-ahead by Islington council. The £65m scheme, designed by architect Sheppard Robson, will retain the Grade II listed facade of Lowndes House. Michael Sherley-Dale, City North’s group managing director, said: “We won’t start work on this site unless we have a prelet, and it is unlikely to get built at anything less than £35 per sq ft.” City North bought the derelict car park in 1999 for £5.75m, and Lowndes House the next year for £6m. Development costs for the scheme are likely to be around £24m. DTZ provided planning advice.
