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City North Plans City Fringe Office Scheme

LONDON-City North Group is planning a 110,000 sf office development at One City Road on the northern fringe of the City.

By Graham Parker | Updated on June 07, 2001

LONDON-City North Group is planning a 110,000 sf office development at One City Road on the northern fringe of the City. Site assembly has now been completed with the £5.67 million ($7.94 million) purchase of Lowndes House, 1-9 City Road. The company already owned the adjoining 11-23 City Road.

Lowndes House currently produces a rental income of £280,000 ($392,000) per annum, and the developer expects to gain vacant possession in less than three years. A planning application for at least 110,000 square feet net of office space on the combined sites is expected before the end of 2001.

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