M&G Real Estate and developer CO-RE have received planning consent for an 88,000 sq ft office redevelopment at 247 Tottenham Court Road, W1.
The duo will redevelop The Fitzrovia, near to the new Crossrail station at Tottenham Court Road, turning it into 60,000 sq ft of grade-A office space and 8,000 sq ft of retail space.
The six-storey scheme, designed by architect Stiff + Trevillion, will include eight high-end residential units. The developers are targeting a BREEAM Excellent rating.
David Hutton, director at CO-RE, said “The Fitzrovia will go beyond the requirements of the modern occupier, providing a high-end design and flexible commercial space just moments from the transformed Tottenham Court Road station.
“As we step into a new era, access to outside space is an increasingly important consideration for all occupiers. The Fitzrovia will meet this demand through the provision of both private and communal outdoor terraces.
“Securing planning permission marks another confidence boost for the central London office market and points to the inherent long-term value and continued resilience of our sector.”
Work on the site is expected to be finished in the latter half of 2024. Knight Frank has been appointed as leasing agent.
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