Strategic partnership at Old Street Quarter

Derwent London plc ("Derwent London" / "the Group") Strategic partnership with Related Argent at Old Street Quarter

Derwent London is pleased to announce that it has formed a strategic partnership with Related Argent in relation to the Old Street Quarter EC1 site that it expects to acquire in late-2027. This follows studies undertaken by Derwent London which show that the 2.5-acre central London site has the potential for a substantial mixed-use campus development.

Initially, the parties will work on delivering a best-in class mixed-use, living-led planning consent for this unique regeneration opportunity. A range of uses is being appraised, including residential, co-living, student accommodation, office and hotel.

The master planning will be structured in a way that allows Derwent London flexibility of delivery, which in the future may include joint ventures, forward funding and plot sales.

Related Argent has an impressive track record in large-scale urban regeneration as a developer, owner and operator. This skill set complements Derwent London's innovative and design-led approach to development. Both parties also have strong and long-standing relationships across a broad range of stakeholders.

Paul Williams, Chief Executive of Derwent London, said:

"Old Street Quarter represents an exciting regeneration opportunity for one of the few remaining significant island sites in central London. We have actively explored a number of options to ensure we deliver the best possible regeneration and, as part of a competitive tender, Related Argent showcased their extensive experience in master planning this type of large-scale project. I am confident that together we can deliver a planning consent which will maximise the value of the site."

Tom Goodall, Chief Executive Director at Related Argent, said:

"We have long admired Derwent London for their commitment to place and quality of delivery. Together, we will draw on our collective experience leading complex, mixed-use developments to successfully bring forward this site - propelled by a shared ambition to bring long-term value to London."

Related Argent is one of the largest privately owned property and urban regeneration businesses in the UK, working across residential, workspace, education, retail, hospitality and leisure. Its mission is to be a great city builder and to improve urban life for everyone, every day.

Its team of passionate urbanites bring together an extraordinary and unique blend of complementary skills, access to global capital and unrivalled delivery and management experience. By developing, owning and operating for the long-term, its work goes beyond bricks and mortar development to deliver inclusive growth for all its customers.

Today, Related Argent has a c.£9bn, 11 million sq ft UK portfolio, which includes the delivery of major London regeneration schemes at Brent Cross Town and Heart of Hale, plus its first Build-to-Rent development at Author King's Cross

Formed in 2015, Related Argent brings together the expertise and track record of Argent LLP - the developer behind some of Britain's most successful urban, mixed-use places including King's Cross, St Peter's Square in Manchester and Paradise Circus in Birmingham - and Related Companies - one of the most innovative and prominent privately-owned real estate companies in the US, with over $60 billion in assets owned or under development, including Hudson Yards on Manhattan's West Side and The Grand LA in California.

For more information visit relatedargent.co.uk.