Orion Capital Managers and Quadrant Estates have appointed Morgan Sindall as building contractor on Carmelite Riverside, the 135,000 sq ft (12,500 m2) prime riverside office development at 50 Victoria Embankment.
Orion Capital Managers and Quadrant Estates have appointed Morgan Sindall as building contractor on Carmelite Riverside, the 135,000 sq ft (12,500 m2) prime riverside office development at 50 Victoria Embankment.
Work will start on the redevelopment immediately, the companies said in a statement.
'This is a significant step forward and we can now get cracking on what is one of London’s most exciting and enviable office locations adjacent to the brand new Blackfriars station,' said Tristram Gethin of private developer-investor Quadrant Estates.
Morgan Sindall will be responsible for the £25 mln (€30 mln) construction of the redevelopment to Grade A standard. Carmelite Riverside will be completed and ready for occupation in April 2014.
Orion Capital Managers bought Carmelite House last July from Aberdeen Asset Management and entered into a joint venture agreement with Quadrant Estates, as development manager, to develop the building which is the former Daily Mail HQ.
Carmelite Riverside is aiming to attract occupiers looking for a Grade A building in a prime riverside location, particularly those from the West End, City and Midtown, where new Grade A stock is in limited supply.
Leasing agents for Carmelite Riverside are CBRE and Knight Frank. The architect is Fletcher Priest.
