One Bedford Avenue near Tottenham Court Road will be redeveloped into a £100m mixed-use scheme after AshbyCapital purchased the site.

The redevelopment will be carried out in partnership with Exemplar Properties and will comprise a 115,000 sq ft scheme of high quality retail and office accommodation over basement, ground and seven upper floors.

Clive Bush, co-Founding Partner of Exemplar, said: "This building will be one of the finest on Tottenham Court Road which is one of the best up-and-coming locations on the Crossrail route."

The London borough of Camden consented to the 115,000 sq ft scheme at the end of 2013.

At lower ground and ground floors, the building offers approximately 13,918 sq ft gross internal area of retail accommodation, with shop fronts on Tottenham Court Road designed to satisfy the requirements of large retailers. The offices above are accessed from Bedford Avenue, with seven office floors ranging in size from 11,722 sq ft at the lower levels, stepping back to 4,370 sq ft on the 7th floor.

Peter Ferrari, Chief Executive of AshbyCapital, said: "We are delighted to have the opportunity to work with the expert team at Exemplar
to develop this prime property. The area's rapid regeneration will ensure excellent growth prospects for this investment over the coming years."

Work is due to start on site in the third quarter of this year, with completion due in early 2017.