LONDON (Alliance News) - Shaftesbury PLC said Wednesday that it has been granted planning consent to reconfigure 57 Broadwick Street, Carnaby, London.
The West End-focused real estate investment trust said its scheme for the building includes the creation of retail space and a restaurant, extending to 11,000 square feet over the lower floors, the refurbishment and extension of office space on the upper floors, and two apartments totalling 2,000 square feet.
Shaftesbury expects works to begin in the spring following the expiry of existing occupational leases in April, with completion in phases from late 2017. It currently estimates the cost of the scheme at GBP14 million.
Shares in Shaftesbury were up 6.2% at 215.60 pence Wednesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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