Fleet Street student scheme given green light

Dominus and Cheyne Capital have received unanimous planning consent for the redevelopment of 65 Fleet Street, EC4, into a student accommodation scheme. The approved scheme includes partial demolition, refurbishment and extension of the buildings to provide 856 student rooms, of which 35% will be affordable. The scheme was approved in line with planning officers’ recommendations.  The accommodation will be divided into 192 cluster rooms, 593 studios and 86 wheelchair-accessible rooms. The scheme will also include 16,000 sq ft for cultural and community uses to be curated and operated by the St Bride Foundation. Dominus and Cheyne Capital acquired the 230,000 sq ft office building earlier this year. It was owned by JMI Properties, which bought it from Employees Provident Fund for £160m in 2017, according to EG Radius data. It was formerly occupied by law firm Freshfields Bruckhaus Deringer. The office-to-resi scheme was approved even though there is a lot of demand for office space in the area. More than 1m sq ft is currently under offer in Midtown market, according to agent Farebrother, with the nearby Peterborough Court currently 75% prelet ahead of completion next year. Image from Dominus