Weekly planning news from the central London Boroughs
A weekly round up of the latest property news from the central London Boroughs
Islington
Property Week reports San Francisco based Rocket Space is to be the latest flexible workspace provider to vacate the London market. Rocket Space will stop operating it’s two floors at its flagship office situated at 40 Islington High Street. Known as Regents House the building is sublet from the Royal Bank of Scotland which plans to use the space for its own staff.
Southwark
The Estates Gazette Avanton has acquired a gas holder site on Southwark’s Old Kent Road, SE15. Avanton intends to develop the site for a £230 million mix-use scheme. The luxury residential developer acquired the freehold for the four-acre site from Scotia Gas Networks. They will construct 750 new homes and 50,000 sq. ft of light industrial commercial space. Marc Pennick, partner at Avanton, said: “Our pipeline portfolio of homes and commercial premises on Old Kent Road will provide good investment opportunities for discerning investors.
Westminster
Property Week reports the UK property fund of private equity firm BlackRock has completed the sale of its Covent Garden office, situated at 65 Chandos Place. The prime freehold office building was sold for £30.2 million to a private group of Hong Kong based investors seeking long term rents.
The Estates Gazette reports gaming lifestyle brand Razer has secured a deal for its first European store. Razor will open a 3,700 sq. ft store at Shaftesbury’s 51-53 Charing Cross Road, WC2 on December 14th in time for Christmas.