HB Reavis has begun demolition works at 33 King William Street, its first development in the UK.
The works will be completed by Erith demolition contractors.
Speculative construction of the new 230,000 sq ft Grade A office building will begin in the first half of next year and HB Reavis will fund the cost using its own equity.
Completion is expected in the second half of 2016.
Since acquiring the asset, HB Reavis has appointed CORE as development adviser, and Deloitte Real Estate and Knight Frank leasing teams have been jointly instructed to market the building.
The new development will offer a double height reception of at least 4,000 sq ft, with full height glazing. The building will provide tenants with a quarter acre roof top garden offering views of the Shard, River Thames, St Paul’s Cathedral and other iconic central London landmarks. The scheme’s central location also provides access to over 200 places to eat, drink and stay, all within a short walk.
HB Reavis is expanding its London business and are actively looking to acquire further assets in London. It is currently strengthening its London based team and recently appointed Richard Saul as leasing director.
Tomaš Jurdák, director of HB Reavis UK, says: “The start of demolition marks a key milestone for HB Reavis London and we now look forward to beginning the development of the new office building. The scheme will draw upon our extensive development expertise, and we are confident that it will provide the highest quality office space in a highly sought after location.”