The company will redevelop the Holywell Centre building on Phipp Street, EC2A in Shoreditch.
The existing structure, comprising 21,000 sq ft of studio office space valued at £9 million, will be replaced by a new 55,000 sq ft business centre at an estimated cost of £19 million.
It will provide a destination for London's high growth businesses looking for space in the Shoreditch area.
The new development has been designed to complement the traditional warehouse characteristics of the local South Shoreditch Conservation area.
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It will double the amount of employment space currently on site, with office and studio space ranging from 200 sq ft to 1,300 sq ft.
New features include:
• Business-grade telecommunications and data infrastructure throughout.
• Meeting room facilities.
• A café and communal areas for informal meetings and events.
• Shower facilities.
• Cycle storage.
Jamies Hopkins, Chief Executive of Workspace, said: "Holywell Centre is one of the properties we had previously identified to be upgraded and enhanced, in line with our strategy of creating added value from the existing portfolio.
"Having been granted planning permission for its redevelopment, we will create a flagship Shoreditch business hub, transforming the building into a dynamic home for some of London’s most exciting businesses in a hotspot of growth and innovation."
(LM)
