Derwent London progresses major central London office developments

Derwent London is progressing two major office redevelopment schemes in central London following strong leasing activity and rental growth across its portfolio.

Demolition works have already started at Holden House on Oxford Street, where the developer is delivering a 133,500 sq ft retained-façade redevelopment opposite the Dean Street Elizabeth line station.

Kier Group has been appointed under a pre-construction services agreement for the main build works, with completion targeted for the second half of 2028.

Derwent London has also confirmed plans to move forward with the redevelopment of 50 Baker Street W1, where demolition is expected to begin in the coming months.

The proposed scheme, designed by AHMM, will deliver approximately 236,000 sq ft of office-led space within one of London’s strongest commercial markets.

Multiplex is expected to deliver the project, which has an estimated value of around £150 million and is scheduled for completion in the second half of 2029.

Derwent London said the decision to progress both developments follows strong recent leasing performance, including pre-letting activity at its newly completed Network W1 scheme.

The developer also confirmed it is progressing plans for a future mixed-use development at Old Street Quarter EC1, located on the former Moorfields Eye Hospital site near Silicon Roundabout.

The update reflects continued confidence in prime central London office redevelopment despite wider market pressures, particularly for high-quality, sustainability-led workspace.