Real estate investor and developer, CIT has announced plans to redevelop Finsbury Tower in central London
Located at 103-105 Bunhill Road near the Old Street Roundabout, an existing 153,000 sq ft office building will be transformed into a 310,000 sq ft retail, residential and office space across 29 stories.
Commenting on the build, Craig Johnston, Chief Operating Officer of CIT comments, “This scheme will deliver highly sought-after office space, alongside new retail and improved public realm in the Capital’s tech district between Old Street and the City Fringe.
“We are pleased to be moving forward with this exciting development and working alongside Brookfield and ARI.”
The Old Street and City Fringe area has becoming increasingly popular amongst the technology, media telecommunications (TMT) and creative industries.
The new build will host a range of flexible office space from 6,000 sq ft to 24,000 sq ft that has been adapted and created to accomoodate the needs of modern day working.
Shaun Simons, Director & Co-Head of City Fringe at Colliers International, said: “The offering at 103-105 Bunhill Road is extremely rare. The scale of the building allows for a variety of floorplates in the heart of the Old Street district well suited to accommodate a range of company sizes and types.
“The development will also be innovatively set up as a creative campus, with enough clientele to demand its own tailored retail and restaurant brands.”
Further to the additional office spaces, the development will incorporate 20,000 sq ft of landscape and new pedestrian routes.
In addition, Bunhill Row will be occupied by a range of independent retailers and restaurants.
Office letting agents representing the development include BNP Paribas, Cushman Wakefield and Colliers International.
