A redevelopment of up to 210,000 sq ft could be on the cards following the planned sale of the former London offices
of the Guardian newspaper.
According to Property Week, Guardian Media Group's previous headquarters is to be sold by owner Ronan O'Caoimh.
The 82,000 sq ft building could secure up to £25 million, with the debt against the block currently held by the National Asset Management Agency, the property resource explained.
Back in 2009, plans to transform the premises at 119 Farringdon Road were scrapped by mayor of London Boris Johnson. Mr O'Caoimh's Farringdon Property wanted to redevelop the building into The Wave, which was designed by HKR Arhcitects.
The Wave, which on paper comprised 200,000 sq ft, was designed to deliver green central London offices
aimed at creative and media organisations. Its designers wanted it to become a landmark building in the capital.
However, Property Week added that following the rejection of the plans, the premises was instead let to tenants, with Datamonitor taking almost 44,000 sq ft in space.
Posted by John Evans
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