HB Reavis has started demolition in central London, where it will build offices

John Robertson Architects, office building 33 King William Street

Prague/London - The developer group HB Reavis, owned by billionaire Ivan Chrenko, has begun the demolition of a building in central London, which it acquired last year for 75 million euros (more than two billion crowns). This was announced today by the developer's spokesperson Magdaléna Drsová. Next year, a new nine-story office building will start to rise in its place, with construction expected to be completed in the second half of 2016.
The developer had to wait until this July to begin the demolition of the old building with 12,000 square meters of office space at 33 King William Street, located in close proximity to the Bank of England and the London Bridge, when all rental contracts expired.
The new office building, with a gross leasable area of 21,000 square meters, was designed by the architectural studio John Robertson Architects. The developer has begun construction speculatively, meaning without pre-arranged tenants. The costs of construction, the amount of which the company has not disclosed, are being covered from its own resources.
However, this project is not the last on the London market. HB Reavis aims to further expand its activities in London and is seeking new acquisitions there. For this reason, the company has expanded its team and appointed Richard Saul as the director of leasing.
The international developer group HB Reavis, originally from Slovakia, is based in Luxembourg and operates in Slovakia, Poland, Hungary, the Czech Republic, Great Britain, and Turkey. The group was founded in 1993. It manages assets worth 1.4 billion euros. The total leasable area of its properties exceeds 670,000 square meters. The most recently completed project is the River Garden II./III. office building in Karlín, Prague.