Evans Randall Investors is set to forge ahead with its redevelopment of Thavies Inn House, EC1, after subtenant Lloyds Bank handed back the keys and surrendered its lease.
The bank surrendered its leasehold interest in the Holborn Circus office block early after reaching an agreement with Evans Randall Investors to enable construction for the renovation works to start.
Plans for a new 10-storey building, which were approved by the City of London in December 2022, include 100,000 sq ft of workspace and ground-floor retail.
The WilkinsonEyre-designed scheme will incorporate circular principles to create a sustainable and healthy workplace plus a new public park.
Ned Williams, managing director at Evans Randall Investors, said the move was “a further significant step forward” in delivering a best-in-class office scheme in Midtown.
Work is expected to commence on site in 2024.
Evans Randall Investors has appointed Knight Frank and CBRE as leasing agents and Avison Young as project manager.
David Perowne of CBRE and Dan Gaunt of Knight Frank said: “The redevelopment of Thavies Inn House will deliver best-in-lass office accommodation to an increasingly constrained supply pipeline. We continue to see very significant tenant interest for market-leading schemes and Thavies Inn House is well placed to capitalise on this trend, meeting and exceeding the requirements of today’s occupiers.”
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