Angel Square offers the potential for adding value through a number of asset management strategies including the letting of vacant accommodation, re-gearing leases with existing tenants or refurbishment with extension, subject to all necessary and relevant consents.
TP Bennett, a leading firm of architects, have given some initial consideration to this which is set out below.
Refurbishment and Extension
In mid-2015, there is the ability to achieve vacant possession of the office parts of the three buildings. This presents an excellent opportunity to reposition the asset to create an office building that will appeal to TMT-type tenants.
TP Bennett’s preliminary analysis indicates that refurbishment and extension could take a number of different forms:
TP Bennett estimate that the proposals shown could provide approximately 30,000 sq ft of additional GIA.
This additional floor area is principally derived from three changes:
In addition to an office refurbishment at Angel Square, there is potential to consider a change of use away from offices, subject to all necessary and relevant consents, to incorporate Hotel, Student Accommodation, Education or Residential uses.