Office scheme will be built on former site of telecoms firm’s HQ

Multiplex is being lined up for a scheme to turn a 1990s building on Old Street roundabout into a 36-storey office tower.

Building understand the firm has signed a PCSA for the job which has a price tag of around £300m.

No start date has been inked but the firm is looking at beginning the job in earnest in the first few months of next year.

KPF Old Street 1

The tower will use the existing Inmarsat Building as a podium

The scheme would insert a new core into the existing building at 99 City Road but keep the majority of its structure, including its foundations and basement.

Multiplex, which has won several high-profile jobs recently, is understood to have seen off only rival Mace for the job.

The City fringe scheme proposes using the existing office building as the base of a 154m tower containing 65,000 sq m of space.

Previous occupier Inmarsat, a satellite telecommunications firm, has moved to a new head office at 50 Finsbury Square which was refurbished by Mace.

Designed by KPF for developer Endurance Land, the new tower aims to revive the area’s struggling tech cluster, known as the Silicon Roundabout.

A number of high-profile firms have left the area in recent years to set up bases in other parts of the capital, including Google, which closed its seven-storey Campus startup hub two years ago.

KPF says its plans would see a 274% increase in public realm compared to the current site, along with a new urban roof garden and 900 cycle parking spaces.

KPF Old Street 4

The scheme would also include a 3,000 sq ft triple height space on the ground floor, which would be open to the street during the summer months

It would also include a 3,000 sq ft triple height space on the ground floor, dubbed the “great room”, which would be open to the street during the summer months and would host cultural events.

The project team includes structural engineer AKT II, Atelier Ten on MEP, Publica on public realm design, planning consultant DP9, townscape consultant Montagu Evans, Sweco on vertical transport, project manager Avison Young and cost consultant Arcadis.

The job was given planning by local authority Islington council last September.