The project includes the construction of a new mixed-tenure residential development as well as the refurbishment and enhancement of Holborn library and archive.

It will also include the refurbishment of retail space fronting Theobald’s Road and replacement facilities for an existing street cleaning depot operated by Veolia.

The developer will also have to provide new studio space to house Cockpit Arts, a social enterprise currently based at the site.

The £100m development is the latest win for U+I, which was named on Transport for London’s property framework in a consortium with Notting Hill Housing Group.

With this latest development, U+I now has a portfolio of 21 central London projects, including the £200m redevelopment of 10-12 Hammersmith Grove, and a 10-acre site at Charlton Riverside.

Camden Council and U+I have been contacted for comment.