The redevelopment plans will transform two existing buildings into a 12-storey Grade A office scheme, delivering 24,000 sq m of workspace alongside 754 sq m of new retail and restaurant space. The project has been designed by Piercy & Company.
J. Andrew McDaniel, co-founder and partner at Meadow Partners, said: “10-20 Victoria Street, located along a heavily trafficked and prestigious location in London, is one of the last major blocks to be redeveloped in Victoria, a rapidly improving office submarket in London.
‘We are pleased to receive the approval, which gives us the opportunity to move forward with a scheme that reflects our approach of identifying sites with strong fundamentals, investing with conviction and creating assets that can perform over the long term.
“We look forward to working with a renowned architecture and development team to design an exciting building fitting for a historic London location that will make the city proud.”
Stuart Piercy, founding director at Piercy & Company, added: “This is an opportunity to contribute a building of lasting quality and considered design to an extraordinary setting that is intended to stand the test of time.
“Inspired by the rich material palette of its classical neighbours, 10 – 20 Victoria Street will provide much-needed Grade A office space, with outdoor terraces and views across a historic part of Westminster.
“The building’s stepped form is designed to break down the monolithic horizontality of the streetscape into four distinct vertical bays, creating depth, articulation and carefully framing panoramic views across the surrounding townscape.”