Workspace Group has been granted planning permission for the redevelopment of Mare Street Studios in Hackney.
The Studios are situated less than 200 metres from London Fields train station, providing a direct link into Liverpool Street.
The site currently consists of 38,000 sq. ft. of office and light industrial space and was valued at £9.4m at March 2016.
Workspace has been granted planning consent to refurbish the site, upgrading the existing space and adding a rooftop extension.
The new 55,000 sq. ft. business centre will contain all the attributes that characterise Workspace’s offer, including a café, meeting rooms, co-working space, cycle storage and showers and communal breakout areas.
Jamie Hopkins, Chief Executive of Workspace, said: “Hackney has become a very attractive area for our customers and we are delighted to have achieved planning consent to create a new business centre that will meet the demand in this exciting location.
“We continue to deliver on our pipeline of refurbishment projects to upgrade the quality of our portfolio and add superior value to shareholders over the long term.”