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TIAA Henderson Real Estate receives a resolution to grant planning permission for prime London, Midtown block

Commonwealth House

TIAA Henderson Real Estate (TH Real Estate) has secured a resolution to grant planning permission from Camden Council for its midtown scheme - Commonwealth House - which will be renamed 1 New Oxford Street.

A detailed planning application for a comprehensive refurbishment and extension of the building was submitted on 31 July 2014.

The current asset, owned by TH Real Estate’s Central London Office Fund, comprises a fully multi-let c.9,000sq m office building.

The proposed scheme involves a stunning renovation of the art modern inspired building, carefully designed to cater  to the needs of the next generation of office occupier.

The asset will provide a full office refurbishment with a retail offering at ground and basement level. An additional floor will also be added.

The scheme has been designed by Orms architects.

Ilna Patel, Portfolio Manager at TH Real Estate, said: “We are delighted to have achieved a resolution to grant planning permission for what will be an exciting addition to London’s dynamic midtown district. The proposed refurbishment is in line with our London office strategy, to stay ahead of rapidly changing occupier trends and demands.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.  TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.  Past performance is not a guide to future returns. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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