Rockspring Property Investment Managers and its development partner, Charterfield Asset Management, have secured a resolution to grant planning permission for the redevelopment of Centurion House, EC3, into a new 80,000 sq ft (7,400 m2) Grade A office building.

Located in the heart of the City of London, the new scheme, designed by David Walker Architects, allows for the comprehensive redevelopment of the building to provide a new office building which also includes two new ground floor retail units. The existing building, which was only acquired in December last year, was originally built in the mid 1980's and consists of 61,000 sq ft of outdated office accommodation.

The building is targeting a BREEAM 'Excellent' rating.

The main construction contract is planned to start early in 2012, with delivery of the completed building targeted for Q2 2013.

Richard Bains, fund manager at Rockspring, said: 'Since acquiring this project last year, we have drawn up ambitious plans to create an entirely new ground up development which will appeal to a wide range of City occupiers. Securing this planning resolution will now enable us to deliver the Grade A office in the second quarter of 2013, at a time where we see little competition in the market for comparable space.'

Knight Frank and Newton Perkins are the letting agents for Centurion House.