Redesign of old De Beers headquarters by architect Rolfe Judd will act as gateway to City.

Contractor Balfour Beatty has started work on the £100m redevelopment of 40 Holborn Viaduct in London.

The scheme, for developer Castlemore Securities and The Royal Bank of Scotland, was the former headquarters of De Beers, the diamond company. Designed by architect Rolfe Judd, the new development will incorporate over 16,258 sqm (175,000 sqft) of new office space and act as a gateway into the City.

The existing building has already been partially demolished beginning in August last year. This involved the removal of a 60 ton pedestrian link bridge over Charterhouse Street, spanning De Beer’s former Diamond Trading Centre’s offices at No. 17 Charterhouse Street and No. 2 Charterhouse Street on the edge of the City of London.

Castlemore is working alongside other landowners to masterplan the whole Holborn Viaduct area. Atis Real and CB Richard Ellis are acting as joint agents for the scheme which will be completed in early 2008.

Commenting on the development, Nick Mason, speaking on behalf of Castlemore said: “Our decision to start this development reflects our confidence in the City and mid town markets. We believe the timing is right given that this will be the only major office scheme coming on stream in the first quarter of 2008.”