Confidence In The Quarter
Investor and Baker Street Quarter member, Derwent London, has committed to building a £400 million office development in the Quarter. The development, which is located at 19-35 Baker Street, will comprise of 293,000 square feet of space, of which 206,000 is for offices alongside retail and residential. This project forms part of The Portman Estate’s commitment to regenerate the area and the Estate will be involved in the additional retail as well as retaining the freehold of the project. We are delighted by the show of confidence in the Quarter and look forward to seeing the new development and welcoming the new businesses that it will bring to the area.
Construction is expected to begin next year with completion in 2025. Derwent London’s chief executive, Paul Williams, is confident that employees will continue to return to offices once lockdown ends, despite industry concerns about businesses allowing staff to work remotely for the long term, telling the Evening Standard that some tenants had said “we are better together and in together”, and added that for many people working from home had been hard.
For more information visit Derwent London’s website.
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