The scheme will include 346.000 square feet of office space as well as 33,000 sq ft of space for restaurants and shops at ground and basement level. The site will also have a new public piazza, green spaces and improved pedestrian links.
"Our decision to commence the speculative development of 1 & 2 New Ludgate reflects our confidence both in the City office market, where we believe supply of new space will be constrained in 2015, and in the quality of the attractive and highly efficient office space we are creating," said Land Securities Head of Development in London Colette O'Shea in a statement.
Existing buildings on the site have already been demolished. Construction on the scheme is expected to start in August and to be completed in April 2015.
