Saatchi office plans called in

Posted on by John Cronin

Mayor of London, Boris Johnson, has called in the proposals for the redevelopment of the Saatchi & Saatchi offices in London.

80 charlotte streetPlans for a multi-million pound, mixed-use redevelopment (pictured) of the Saatchi headquarter offices in Fitzrovia, London were rejected by Camden Council last month.

The plans were rejected as the proposed scheme was considered to be an “over-development” and lacked both affordable residential accommodation and public space provision.

Developers Derwent London are proposing a £100m speculative development consisting of around 320,000 sq ft of prime, Grade A office space. Derwent, who own the 80 Charlotte Street site, want to replace the current Saatchi office building with a 30% larger office block.

Since 2008 the office of the Mayor of London has had powers to determine planning applications itself. A statement from the Mayor’s office quotes Mr Johnson as saying: “Redeveloping this prime location will contribute to the competitiveness of London’s wider economy bringing with it new jobs and business. This proposal clearly meets the test of a planning application of major significance to London and I therefore believe it is right that I scrutinise it in greater detail.”

The proposed scheme is not the only development that Derwent has undertaken in the area. Only last week Derwent announced the letting of one of the two connected office blocks scheme known as the Fitzroy+Maple building (website). Private equity firm Keyhaven Capital Partners Limited has taken the entire 11,500 sq ft Maple building on a 10-year lease, agreeing to a rental price of £41 / sq ft.

A date for a final decision on the Saatchi redevelopment plans has not been disclosed.


This entry was posted in London and tagged , , . Bookmark the permalink.