See examples of Office Space to Rent in Fitzrovia
Property developer Derwent had had its application to redevelop the building denied by the Camden Council, but now the Mayor has taken over the application.
The Mayor of London has the right to take over any planning application that affects the city of London as a whole.
Derwent’s controversial plans for the building include more office space and 55 flats. Camden Council rejected the plans due to what was deemed unaffordable residential space and a lack of public space. Overall the plans were called an ‘overdevelopment’ by the Council.
In a statement, the Mayor said: “These buildings have been home to some of the most creative and innovative minds for the last 40 years, making the area an internationally recognised hub for the global advertising industry.
Redeveloping this prime location will contribute to the competitiveness of London’s wider economy bringing with it new jobs and business.
“This proposal clearly meets the test of a planning application of major significance to London and I therefore believe it is right that I scrutinise it in greater detail.”
This will mark the fourth time in the last three years that the Mayor has intervened in such a case.
City Hall also stated that the project would raise GBP 1.6 million for the Crossrail scheme as well as create new jobs.
The Saatchi building was the headquarters of perhaps the world’s most famous advertising agency, Saatchi & Saatchi.
Founded by brothers Maurice and Charles Saatchi, the agency has been responsible for some of the world’s most famous advertisements, including ‘Probably the best beer in the world’ for Carlsberg, and ‘Labour isn’t working’ during the 1979 general election in the UK.
Currently, the agency has its headquarters in New York.
Editor’s notes: Boris Johnson’s intervention worked and, in September 2020, Derwent was granted permission to redevelop 80 Charlotte Street.
In 2017, Saatchi & Saatchi vacated its home of four decades and moved into another one of Derwent London’s properties, 40 Chancery Lane. The design agency’s parent company Publicis Groupe had signed a lease on the property that expired in 2035.
In December 2019, Derwent London sold 40 Chancery Lane to Deka Immobilien for a headline price of GBP 121.3m.