Land Secs secures consent for 35,000-m[sup]2[/sup] City scheme

UK REIT Land Securities has secured planning permission for its 35,000 m² office redevelopment project at 30 Old Bailey and 60 Ludgate Hill in the City of London.

The mixed-use development comprises a two-building scheme and will replace the current 1960s properties with office accommodation, new restaurant and retail facilities. The project will also involve improved pedestrian links and new public areas.

Land Securities is expected to start demolition in July and completion of the scheme is scheduled for December 2013.

The scheme is scheduled to complete in late 2013 at a time when there will be relatively few development completions in the City.

'We were the first to re-start a major development programme after the downturn anticipating supply constrained conditions and this is the latest part of our clear plan to deliver over two million square foot (186,000 m2) of new space by April 2014,' said Colette O’Shea, head of Development of Land Securities' London Portfolio.