The construction cost of Derwent’s 80 Charlotte Street redevelopment project in London’s West End has jumped by £29m to £236m.
The building is the home of advertising agency Saatchi & Saatchi.
Derwent said it had revised the planning permission “to allow for greater demolition of the existing buildings on the island site”.
The developer added: “The improved scheme allows for three-metre floor-to-ceiling heights on the whole space, more efficient floor plates and significantly de-risks the construction process. We estimate that the future capital expenditure on the scheme will increase by £29m to £236m.”
The project is due to be completed in 2019. Brookfield Multiplex is the main contractor.
