Another office building in Canary Wharf, E14, is set to become a life sciences hub.
GIC and Oaktree bought 17 Columbus Courtyard in February for £100m, marking one of the largest deals completed in the first quarter of 2023, according to Knight Frank.
The partners have now submitted plans to Tower Hamlets Council seeking permission to repurpose the vacant 190,000 sq ft office building into a 200,000 sq ft life sciences facility.
The proposed scheme would open up the lower levels of the building to address the public realm.
The ground and first floors to the west of the reception are expected to be used by “late-stage” start-up companies, with a variety of office and laboratory spaces.
In addition, the existing eighth and ninth floors will be expanded, adding 10,000 sq ft of floorspace.
An upgraded reception space is also proposed for the scheme, alongside a business lounge, flexible gathering space and café.
The refurbished facility is expected to achieve BREEAM Excellent certification and be carbon net zero in operation.
If approved, the joint venture is looking to start the retrofit early next year, with completion expected in the final quarter of 2024.
LS Estates is the asset manager for the scheme, with Avison Young appointed as planner. Savills and DTRE are joint leasing agents.
To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews
