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By Dave Rogers2021-05-24T05:00:00+01:00
East London scheme due to start on site next summer
Morris & Co has been given the green light for a scheme to build more than 150,000 sq ft of workspace close to the Tea Building in London’s Shoreditch district.
The nine-storey warehouse scheme next door to Shoreditch House for developer Blue Coast Capital is expected to start on site next summer and complete two years later.
Source: Secchi Smith
The scheme will include a rooftop terrace and pavilion
Called the Huntingdon Estate, it will include 15,000 sq ft of affordable workspace aimed at fledgling firms as well 2,500 sq ft of retail space and more than 11,000 sq ft of external amenity space.
Fri 21 May 2021 05.00 EDT
While sipping a âSonic Mook Experimentâ in the freshly renovated Light Bar, I pondered how, over the years, many have wished a biblical plague to finish off Shoreditch. Well, no such luck. Itâs alive and well, and Iâve had a banana-flavoured old fashioned and some monkfish yakitori to prove it.
That said, I do understand why people feel so strongly about this area, which has been a magnet to the young and wilfully edgy for almost three decades now, because they can be exasperating and are very definitely laughable. In fact, the word âShoreditchâ itself has become a punchline of sorts, and the cause of much groaning and eye-rolling. Such things are hard to shake off.
Derwent London reports dip in rental income after unprecedented year during pandemic
Property firm Derwent London this morning reported a dip in net rental income for the year, as the vacancy rate for the London office market doubled during the pandemic.
Gross rental income for the landlord hiked 5.8 per cent last year to £202.9m, up from £191.7m in the same period last year.
However the impact of Covid-related costs and impairments saw net rental income for the firm, which owns properties such as the Tea Building in Shoreditch, fall to £174.3m, down 2.1 per cent from last year.
The company swung to an IFRS loss of £83m, down from profit of £280.6m last year. EPRA earnings were £111.0m or 99.2p per share, down 3.8 per cent from 103.1p in 2019.
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