Demolition finished in August 2014 and the development is due for completion in around 18 months’ time, reports Derwent London in annual results for 2014.
White Collar Factory is a significant development for two reasons:
1. Its scale: it has a total estimated cost, including land, of c.£200m. The commercial element is expected to provide an ERV of £14.7m and there are also nine apartments.
2. The development encapsulates thoughts on what constitutes the most attractive space for today’s creative businesses. Derwent London has seen that a number of their most successful offices, which have enjoyed resilient demand, are buildings originally designed for industrial use, such as Tea Building E1, Greencoat and Gordon House SW1 and most recently The Buckley Building EC1. The White Collar Factory provides new offices in an industrial frame which will give occupiers robust and flexible space, with above average volume and strong sustainability credentials.
Source: Derwent London Annual Results for 2014