Construction firm ISG has won a £59m deal from investment group Blackstone to refurbish a major office building located opposite the criminal courts in London's Old Bailey, UK.
Located at 20 Old Bailey, the building from the 1980s era is expected to be upgraded and modernised, requiring several structural alterations and internal remodelling.
Frontal elevation of the building will also need to be renewed by ISG. The upgrade plans also include the addition of two further floors at roof level.
Once completed, the refurbished structure will offer around 240,000ft² of high-specification Cat-A office accommodation.
ISG will be responsible for creating a 'contemporary yet sympathetic new elevation, with stone, aluminium and glazed architectural treatments' for the project, which is also expected to have significant structural work involving strengthening of columns in order to support new floor the constructions at roof level.
Remodelling works for the building will include infilling the existing square atrium at the centre of the building, and creation of larger, rectangular atrium at its front.
The atrium will also be extended downwards to the ground floor in order to allow maximum natural light in the development.
ISG Southern regional managing director Stuart Deverill said: "Blackstone has an enviable pedigree for acquiring underperforming property assets in prime London locations and re-positioning the space to create highly desirable commercial office space.
"This highly specialised and logistically complex project plays to our significant strengths delivering central London heavy office refurbishment schemes and underlines our commitment to forging strong relationships and working in partnership with our existing customer base."
Image: Computer-generated imagery for frontage of new refurbshed building. Photo: courtesy of ISG plc.