Derwent London is pleased to announce that it has formed a strategic partnership with Related Argent in relation to the Old Street Quarter EC1 site that it expects to acquire in late-2027. This follows studies undertaken by Derwent London which show that the 2.5-acre central London site has the potential for a substantial mixed-use campus development.
Initially, the parties will work on delivering a best-in class mixed-use, living-led planning consent for this unique regeneration opportunity. A range of uses is being appraised, including residential, co-living, student accommodation, office and hotel.
The master planning will be structured in a way that allows Derwent London flexibility of delivery, which in the future may include joint ventures, forward funding and plot sales.
Related Argent has an impressive track record in large-scale urban regeneration as a developer, owner and operator. This skill set complements Derwent London’s innovative and design-led approach to development. Both parties also have strong and long-standing relationships across a broad range of stakeholders.
Paul Williams, Chief Executive of Derwent London, said:
“Old Street Quarter represents an exciting regeneration opportunity for one of the few remaining significant island sites in central London. We have actively explored a number of options to ensure we deliver the best possible regeneration and, as part of a competitive tender, Related Argent showcased their extensive experience in master planning this type of large-scale project. I am confident that together we can deliver a planning consent which will maximise the value of the site.”
Tom Goodall, Chief Executive Director at Related Argent, said:
“We have long admired Derwent London for their commitment to place and quality of delivery. Together, we will draw on our collective experience leading complex, mixed-use developments to successfully bring forward this site – propelled by a shared ambition to bring long-term value to London.”