KanAm Grund Group has secured a resolution to grant planning consent from the City of London for its first redevelopment project, "Princes Court" in London. The original 1960s building is located at 7 Princes Street, EC2, in the heart of the City’s financial district. Located directly opposite the Bank of England, and next to the luxury hotel “The Ned” and “Grocer's Hall”, the office building was acquired by KanAm Grund Group in early 2019.
Future occupiers can expect high-quality spaces with the highest sustainability standards in a prestigious prime location. The proposal, developed in close collaboration with Morgan Capital, as development manager, and designed by architects Aukett Swanke, takes the original 1960s building back to its frame, adds two new floors, and replaces the entire aged façade with a new high-performance replacement to create a 9-storey, circa 54,000ft² building, fit for the next generation of occupiers. The proposal will sit harmoniously with the important heritage assets that surround it; whilst targeting the highest BREEAM ‘Outstanding’ rating. Construction is scheduled to begin later this year, with completion planned for the first quarter of 2024.
Olivier Catusse, Managing Partner of KanAm Grund Group, said: "We have made a deliberate strategic change within the organisation in the past 18 months and strengthened our development team throughout Europe in order to not only acquire and manage high-quality real estate for our investors, but also to be able to actively participate in its creation – in this case through redevelopment. We will soon start with the implementation of the project, which reflects exactly what we have set as our corporate goal: To offer sustainable real estate with attractive and long-term performance prospects for our investors."
