Beltane Asset Management has appointed VolkerFitzpatrick to begin construction of the 80,000ft² (7,432m²) headquarters office scheme 24 King William Street EC4.
The development is due to complete in Q2 2017 and has an estimated gross development value in excess of £100m (€141m).
The nine-story building boasts river views, outside space on the 8th floor and a large tranquil urban garden at the rear of the building. It also includes 10,000ft² (930m²) of retail and leisure space as well as 8,500ft² (790m²) of efficient floor-plates.
Beltane co-founder Duncan Roe said: “Site works have begun and we are confident of this building’s success given the shortage of quality space coming to the market in the City. The pivotal location means the building will be attractive for both financial and insurance occupiers but also more creative corporate occupiers attracted by its close location to the South Bank”.
This is the fifth project Beltane has undertaking in partnership with Angelo, Gordon & Co. In October this year, the joint venture completed the acquisition of 42 Southwark Bridge Road, SE1 from M&G Real Estate. The transaction details have not been confirmed but it is understood to have sold for approx. £50 mln (€68m).
