Major refurbishment plans for City office tower
Plans have been submitted for a major refurbishment of a large office tower in the City of London.
Plans were submitted in December for a complete renovation of the One Angel Court (pictured) site in Throgmorton Street and Copthall Street in the City. The developers are NG Properties who have applied for consent to renovate the building and to also increase the available floor space from 392,645 sq ft to 471,706 sq ft. Along with increased office space the redevelopment is to include additional retail space within Angel Court itself.
The octagonal building is one of the older office towers in the City having been constructed in the mid 1970s. The proposal is to fully rebuild the building by stripping it back to the core shell before being re-clad in floor to ceiling glazing. The construction works require Listed building consent for minor modifications to the Grade II listed 41 Lothbury building and some additional demolition works are required to the existing structure.
The refit will see Grade A office space of a higher specification than what is currently on offer. Expected rental prices are not yet available. Currently, available floor space within the building is being marketed at around £25 / sq ft. Rates are in excess of £17 / sq ft and a service charge is currently capped at £10 / sq ft.
It is expected that the renovations to the building and the introduction of energy saving measures will result in a revised BREAAM rating of ‘Excellent’. Architects for the development are Fletcher Priest Architects.
A decision from the planning authority is expected in early March.
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