Pair of Camden offices set for approval
London could get a much-needed boost to its office development pipeline as two schemes totalling 280,000 sq ft have been recommended for approval at Camden’s planning committee meeting on Thursday.
Lasalle Investments and General Projects’ proposals at Highgate Studios in Kentish Town would involve the demolition of two commercial buildings and their replacement with a seven and four-storey building, as well as the extension of four more buildings at 53-79 Highgate Road, NW5.
The development would create 173,000 sq ft of new office space in Kentish Town, an area designated as a cluster for creative businesses from the media, fashion, design and manufacturing sectors.
London could get a much-needed boost to its office development pipeline as two schemes totalling 280,000 sq ft have been recommended for approval at Camden’s planning committee meeting on Thursday.
Lasalle Investments and General Projects’ proposals at Highgate Studios in Kentish Town would involve the demolition of two commercial buildings and their replacement with a seven and four-storey building, as well as the extension of four more buildings at 53-79 Highgate Road, NW5.
The development would create 173,000 sq ft of new office space in Kentish Town, an area designated as a cluster for creative businesses from the media, fashion, design and manufacturing sectors.
Planning officers said the proposal “represents a significant uplift and improvement of employment floorspace” and would, despite “less than substantial harm” to a nearby non-designated heritage asset, bring significant public benefits.
The other scheme up for approval would see a car park at 45-54 Saffron Hill and 3 Saffron Street in Farringdon, EC1, redeveloped as an eight-storey, 128,000 sq ft building.
Comprising 126,000 sq ft of offices and almost 2,000 sq ft of retail, Saffron Hill Holdings’ plans would involve the demolition of the existing eight-storey car park.
Recommending the scheme for approval, planning officers said it would remove “a negative contributing building that has very little adaptability” and replace it with “a flexible, high-quality designed, sustainable commercial building which provides affordable workspace, new café use and improves the public realm around the site”.
According to Colliers, average prime rents in London grew by 5.5% year-on-year in Q3, as demand for grade-A accommodation remained strong in the capital. During the same period, 81% of transactions were for grade-A space, ande 50% were prelets or for new or refurbished space.
Image © SLAB
