Planning consent has been secured for The Brand ExchangeTM on Birchin Lane, an innovative commercial venture in the City of London for Brand Finance - the world’s leading brand valuation consultancy.
The refurbishment project of the Grade II listed building is being managed by BNP Paribas Real Estate, the leading property adviser.
The long leasehold of the building was initially purchased, along with 7 Cowpers Court, by BNP Paribas Real Estate for Brand Finance in September 2013 for £1.31 million (approx. €1.6 million), reflecting an unadjusted capital value of £349 per ft². The transaction involved a back-to-back surrender deal with the previous long leaseholder, Aviva Insurance Ltd.
The Brand ExchangeTM - where brands meet finance, will be an important London business venue for brand and marketing professionals, and will broaden the mix of social and economic activity in this corner of the City.
James Pearce of BNP Paribas Real Estate’s building consultancy team, comments: “The building has stood vacant for some time and this project will see it refurbished to bring it back into commercial use. The works include the removal of poor quality alterations and the restoration of the building’s historic features. The scheme includes contemporary finishes and furniture to minimize the impact on the building’s fabric whilst bringing it up to modern standards.”
David Haigh, Brand Finance’s Chief Executive, said: “The Brand ExchangeTM will bring together world leading experts and industry leaders in brand building to a wonderfully restored setting in the heart of The City of London. Meeting rooms, event spaces and a private lounge will allow members to relax and develop ideas with colleagues, business partners and collaborators. We are very excited to see the finished refurbishment.”
Source: BNP Parisbas