Irvine Sellar has lodged plans for a David Chipperfield-designed scheme at Seal House in the City of London.
The 68,500 sq ft building is located on the north side of the Thames opposite the proposed Shard Tower development that is being developed by Sellar, Simon Halabi and CLS Holdings. Any redevelopment of Seal House is somewhat restricted because of protected views of St Paul’s Cathedral. Chipperfield’s design proposes a 10-storey building that will comprise around 140,000 sq ft of office space.
Sellar bought the 1970s building in a portfolio from Israeli-quoted company Africa Israel at a 7.12% yiled in 2005. It is let to financial management company Merrill Lynch until 2014. The rest of the portfolio consisted a 79,000 sq ft building in Bletchley, near Milton Keynes and a 40,000 sq ft office building in Seer Green, Buckinghamshire let to Perkin Elmer until 2032.