Mortar Developments in joint venture with UCL
Nottingham’s Mortar Developments is set to build a £40m mixed-use development for University College London (UCL). The building, on Caledonian Road in Islington, London, will provide the university with 346 student rooms, office and retail space.
Once complete, the development will include 7,000 sq ft of retail space, and 6,000 sq ft of offices.
Mortar said the scheme will comply with the new London Plan and meet the city's promise to reduce carbon emissions by 20 per cent through the use of renewable energy.
The new building will have a BREEAM ‘excellent’ rating and will include a green roof and photo voltaic solar panels.
The scheme has been long in the planning, with the original application being submitted by Mortar in 2009. Mortar said work on the project will start "imminently".
The company added it hoped to complete the scheme by the summer of 2013.
Drivers Jonas Deloitte acted as advisers to UCL on the deal.
