A weekly round up of the latest planning and property news from the central London boroughs

City of London 

Property Week reports the City of London Corporation has completed the sale of Wood Street police station. Wood Street Hotel, owned by Magnificent Hotels, has bought the grade II listed building on a 151-year lease and intends to convert it into a five-star boutique hotel, subject to planning permission. It is understood that the Hong-Kong based company bought the police station for a price in excess of £40m.
 
Property Week reports Joseph Safra and architects Foster + Partners are to appeal the decision made by Sadiq Khan, the Mayor of London, to refuse their plans for the skyscraper, known as ‘The Tulip’. The original plans for the tower were granted planning permission by the City of London Corporation back in July but were subsequently called in and refused by the Mayor on design grounds. “Height, form, design and appearance would not constitute the very highest quality of design required for a tall building in this location”, said Khan back in July.

Property Week reports that financial services business finnCap has signed a lease for 19,609 sq ft on the final floor of Ashby Capital and Helical’s City of London office building One Bartholomew.

City of Westminster

Evening Standard reports that Japanese streetwear fashion label A Bathing Ape, colloquially known as Bape, will opening a new European flagship store in Mayfair. The standard reports that Bape has signed its only standalone UK lease on Conduit Street. A spokesperson for the Hong-Kong listed fashion house said: “We are intending to expand the brand further into other European regions.” Tom Sleigh, chair of the property investment board at the City of London Corporation commented that the decision to move here “is a vote of confidence in the capital, making clear that London’s enduring appeal to world-leading brands and firms show no sign of stopping, despite a challenging economic climate.”

Property Week reports that Shaftesbury has signed up premium jewellery brand Sacred Gold at 40 Berwick Street in Soho. The 700 sq ft store, which is due to open this March, will be the brand’s first stand-alone store and studio in the West End.

Property Week reports that Britain & Ireland has appointed Hanover Green to its office and retail advisory panel. The agency will provide advice on office and retail leasing on Grosvenor’s property in Central London.

Kensington and Chelsea

Property Weeks reports Kensington and Chelsea’s planning committee have granted Dartmouth Capital Advisors planning permission for a £300 million, 120-bed, six-star hotel. Dartmouth Capital Advisors brought the major application on behalf of Singapore-listed City Developments. The hotel will also include 23,000 sq. ft of premium retail and spa space.

Lambeth 

Property Week reports Ocubis has been given the go ahead from Lambeth’s Planning Committee to build a 600-bed hotel on Albert Embankment, after abandoning plans for a residential led mix-use scheme. The development will keep the external appearance of the original proposals with two 25-storey interconnected towers on the site of Texaco petrol station. Ocubis development director Stephen Chatfield commented: “The hotel will provide will provide guests with high-quality accommodation and far-reaching views in a new, sustainable landmark in the heart of Vauxhall, plus around 450 new jobs for local people.”

Southwark

Property Week reports that FORE Partnership has received planning permission from Southwark Council to build a 110,000 sq ft workspace next to Tower Bridge, with a development value of around £90m. The building will be 100% electric and zero carbon in operation and will use solar panels to generate electrical power.

The Estates Gazette reports German investor Art-Invest Real Estate is in talks to acquire phases two and three of Notting Hill Genesis and Sellar’s scheme at Canada Water, SE15 for less than £150 million. Phase one of the development was recently completed with 234 new homes being built.