Four years after it acquired Aldwych House in a joint venture purchase, Rowan Asset Management has unveiled the first stage redevelopment of the iconic London office building.
So far Rowan — which teamed up with GI Partners and Taurus to buy the 168,000 sq ft property within the Westminster Conservation Area — has spent more than £30m upgrading its landmark asset.
Designed by architects Sheppard Robson the scheme has retained Aldwych House’s historic 1920’s façade, while transforming the interior to Grade A office space. The first phase involves almost 90,00 sq ft of offices across the fourth and eighth floors, with the largest floor plate at 18,000 sq ft.
“The development team has done a spectacular job in transforming this wonderful building,” said Rowan’s chief executive, Nick Jacobs, who explained that 644 tonnes of old material and plant were stripped out before being recycled and re-fitted.
“This project has been a major undertaking, with the internal configuration and spacing requiring a complete overhaul,” he added. “Yet at the same time we felt a huge responsibility to do justice to the building’s heritage.
“From the outside, the building hasn’t changed. We have retained the classic, historic façade, but take a look inside and I think people will be surprised. The reception and communal areas are bold and striking, while the flexible office space is malleable, modern and fun.”
Jacobs said that a major attraction for Aldwych House was its location in a particularly vibrant area of one of London’s most buoyant markets, in Midtown. “We believe occupier interest will come from all sectors including legal and corporate,” he stressed.
In November last year the award-winning Japanese restaurant ROKA opened on the ground floor of the building. And over the next two years, managed lease expiries on the lower floors will allow the refurbishment of a further 60,000 sq ft of office space. Rowan hopes to complete the entire project by 2018.
The joint letting agents for Aldwych House are CBRE and Farebrother.
Source: Rowan Press Release
Previous Post
Ouseburn Valley Is First Class Base Mail Service
