Orion Capital Managers and Quadrant Estates have announced the appointment of Morgan Sindall as building contractor on Carmelite Riverside, a 135,000 sq. ft prime riverside office development at 50 Victoria Embankment.
Morgan Sindall will be responsible for the £25m construction of the redevelopment to Grade A standard offices, which will offer river frontage and typical floor plates of 21,000 sq. ft over eight floors. The redevelopment will also include new cladding to optimise the building’s position and views.
Orion Capital Managers bought Carmelite House last July from Aberdeen Asset Management and entered into a joint venture agreement with Quadrant Estates, as development manager, to develop the building which is the former Daily Mail HQ.
Tristram Gethin, Quadrant Estates said: “This is a significant step forward and we can now get cracking on what is one of London’s most exciting and enviable office locations adjacent to the brand new Blackfriars station. The additional floor delivers more premium office space for occupiers and the 7,500 sq ft roof terrace provides one of the very best views in London. This is what sets Carmelite Riverside apart.”
Work will start on the redevelopment immediately and will be completed and ready for occupation in April 2014.