Property consultants Daniel Watney have secured planning permission for the residential conversion of nos. 24-30 West Smithfield to provide 74 new apartments.
The building currently contains 70,000 sq ft of office space and was previously home to City & Guilds, prior to theirmove into a new HQ at Giltspur Street.
In a landmark move and following almost a year of working alongside the City of London’s planning team, Daniel Watney’s planning team has secured the change of use, making the property one of very few City schemes to get the go ahead for large scale residential conversion.
The six-storey building, constructed in the 1970s will be converted into 74 flats containing a mix of one, two bed and three bed flats. Daniel Watney and Savills have both been instructed to handle the sale of the property on behalf of City & Guilds, and being such a unique opportunity is already attracting significant levels of interest.
Charles Mills, head of planning at Daniel Watney, said:
“We are pleased to have successfully secured the change of use, significantly improving the asset value for City & Guilds, who are a charitable institution, and creating a unique and exciting residential opportunity. The imminent arrival of Crossrail alongside its proximity to both the City and Midtown means Farringdon has become an incredibly popular area with prime residential investors.”