London-listed flexible office provider Workspace Group and Canada Life Investments have been granted planning consent for a mixed-use redevelopment on their adjoining properties in Limehouse, E1, part of the Docklands area of London.
'We are delighted to receive this planning consent,' said Jamie Hopkins, CEO of Workspace. 'This redevelopment continues our strategy to deliver added value from our property portfolio.'
Workspace said its share of the planning consent (44% of the total) comprises 117 residential units (out of 264 units in total) and 31,000 ft2 (2,880 m2) of new commercial space. The overall site comprises 70,000 ft2 of commercial space.
The new scheme will replace the current 19,800 ft2 light industrial building which was valued at £10.8 mln (€12.5 mln) as at 30 September 2018. The site is situated near Limehouse and Shadwell railway stations.
