Derwent London has announced a strategic partnership with Related Argent to transform one of the last major regeneration plots in central London, located at Old Street.
The collaboration will focus on redeveloping the 2.5-acre former Moorfields Eye Hospital site, situated close to the capital’s tech hub around Silicon Roundabout. Early studies have confirmed the potential for a substantial mixed-use campus, which could redefine this part of the city’s urban landscape.
Completion of the site acquisition is expected in late 2027, after which the partners will work together to secure planning consent for a “living-led” masterplan. The proposals are set to explore a broad mix of uses, including residential, co-living, student accommodation, offices and hotel space.
The development framework is being designed to give Derwent London maximum flexibility in how the project is delivered, with options ranging from joint ventures and forward funding to individual plot sales.
Related Argent was selected through a competitive tender process, with its proven expertise in large-scale regeneration — demonstrated by landmark projects such as King’s Cross and Brent Cross Town — cited as a key factor in the decision.
Paul Williams, chief executive of Derwent London, described the Old Street Quarter as “an exciting regeneration opportunity for one of the few remaining significant island sites in central London.”
He continued: “We have actively explored a number of options to ensure we deliver the best possible regeneration and, as part of a competitive tender, Related Argent showcased their extensive experience in master planning this type of large-scale project.”
Tom Goodall, chief executive of Related Argent, added: “Together, we will draw on our collective experience leading complex, mixed-use developments to successfully bring forward this site — propelled by a shared ambition to bring long-term value to London.”
Once complete, the Old Street project is expected to deliver a new benchmark for mixed-use regeneration, combining residential, commercial and community spaces to create a vibrant new destination in the heart of the city.
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