Natwest has put 19-23 Shaftesbury Avenue, W1, up for sale as a prime West End office redevelopment opportunity.
The 0.9-acre Piccadilly Circus corner site, between Denman Street and Shaftesbury Avenue, has consent for a 35,000 sq ft Sheppard Robson-designed scheme, comprising offices and shops.
The development would replace a 23,000 sq ft building that the bank occupies and owns.
DTZ has been instructed to sell the site, seeking offers in excess of £17m.
A redevelopment would provide much-needed space in the capital. According to recent research by Strutt & Parker, West End office demand has hit 4.3m sq ft and tenants looking to sign in Soho and Midtown face a shortage of supply.
joanna.bourke@estatesgazette.com
