WeWork Property Advisors, through affiliated entities, has secured planning permission for the refurbishment and re-development of two offices in the City of London: 51 Eastcheap and 120 Moorgate. Both properties, when complete, expect to be majority occupied by WeWork Companies Inc.
51 Eastcheap will consist of an 85,000 sq ft office building arranged over 10 floors with a small ground floor retail provision. Construction commenced in May 2018 and completion is anticipated by Q4 2018 when WeWork is expected to occupy 100% of the office accommodation.
120 Moorgate will comprise 100,000 sq ft over nine floors including basement space with a more extensive ground floor retail offering, including the existing flagship Barclays branch. The façade will be modernized, with WeWork expected to occupy 90% of the office space upon completion in Q4 2019, and Barclays its current space.
Vengrove has been retained to deliver the planning permissions and subsequent schemes.
