A weekly round up of the latest planning and property news from the central London boroughs
City of London
CityAm reports that City Hall will spend up to £350,000 to defend its decision to reject the planning application for the Tulip tower. An appeal has now been lodged to housing secretary Robert Jenrick by Foster + Partners, with Khan releasing the funds to cover the legal costs of defending the appeal.
City of London/Southwark
Construction Enquirer reports that Great Portland Estates is pushing forward three major schemes, expected to cost around £600m and will develop 820,000 sq ft of mainly office space. The first major project to come forward is a major refit of Bloomberg’s former building at 50 Finsbury Square. Near Moorgate Crossrail station, the developer is working up plans for City Place House where it aims to significantly increase the size of the building to 320,000 sq ft, up from 176,600 sq ft. The biggest of the near-term pipeline of schemes is a plan to build a 31-storey office building in the shadow of the Shard at London Bridge.
Property Week reports British Land has unveiled plans for a new flexible workspace in Haggerston, east London. The 34,000 sq. ft building, at 6 Orsman Road, was built with cross-laminated timber to minimise the carbon footprint of construction with offcuts being repurposed as furniture.
Hackney Citizen reports that Hackney Town Hall officers have been warned by environment chief Cllr Jon Burke (Lab, Woodberry Down) that councillors would not give support to homes heated by gas-fired boilers in the future. The comments came as councillors approved a builder for 26 new affordable homes on the site of the old boiler house on Clapton Park Estate’s Pedro Street.
London Online reports that a multi-million pound regeneration scheme has been put forward which would relinquish one option for extending the Bakerloo Line. Sainsbury’s wants to use its New Cross Gate supermarket site to build 1,161 flats, up to 33 storeys high, and a new store, jointly with developers A2Dominion and Mount Anvil. But Tube chiefs Transport for London want to use the site as their main construction depot for a planned Bakerloo Line extension from Elephant & Castle to Lewisham via Old Kent Road and New Cross Gate.
Property Week reports developer Regal London has secured a £29 million loan from Secure Trust Bank Real Estate to develop a 156-bed aparthotel and café in Whitechapel the developer received planning permission for the scheme last year and has pre-let the space to Staycity on a 30-year lease.
Architects Journal reports that Tonkin Liu has won an invited competition to transform Grade II listed Grosvenor Square in Mayfair. Key ambitions within the programme, which will see £1 billion invested over the next 10 years, include upgrading green spaces, public realm and internet connections across the 120ha precinct, and delivering ‘new, adaptable buildings of world-class design’. The contest was part of a 20 year vision announced by Grosvenor Britain & Ireland last year.
CoStar reports that a restaurant based on the DC comic book universe is to open at 77 Brewer Street, currently occupied by Mash Steakhouse. The Crown Estate, freeholder of the site, submitted planning documents to the Soho Society which was recently approved. The restaurant will be called Park Row, and is the first venture from Wonderland Restaurant Group, run by James Bulmer and Mark Garston, formerly of Heston Blumenthal’s three-Michelin-starred Fat Duck.
Property Week reports that Hines has bought a mixed-use retail and office scheme in the West End of London. Comprising 80 New Bond Street and 325 Oxford Street, the asset contains 37,414 sq ft of office and retail space.The property was purchased from Aviva Investors by Hines on behalf of Hines European Value Fund 2 (HEVF2), for an undisclosed sum. It is currently let to four tenants with vacancy available from August 2020. Hines will refurbish both the site’s retail and office space.
Property Week reports that, celebrity-backed Japanese fusion restaurant chain Nobu is to close its branch at 15 Berkeley Street in Mayfair – which it has occupied since 2005. High-end Italian restaurant Il Borro has signed a 20-year lease to take the 11,000 sg ft space, which will be its first foray into the UK market. Nobu will close on 23 March and relocate to its upcoming Nobu Hotel in Portman Square, expected to open later this year.
Architect’s Journal reports that an eight day inquiry overseen by a planning inspector will begin on 20th May to decide whether Eric Parry Architects’ £400 million extension proposal for Dolphin Square should be allowed. In June, last year Westminster City Council’s planning committee voted to refuse the application, despite its own officers recommending it should go ahead.
Bdaily reports that Queen Anne’s Gate, a historic foreign secretary residence in St James’ Park, has been converted into to 27 new apartments. by Aperture Group Management in collaboration with Linley design house and PDP London. The scheme was regenerated by Aperture Group Management in collaboration with Linley design house and PDP London.
Property Week Trophaeum Asset Management has bought 144-146 New Bond Street, which is currently let to Halcyon Gallery with 10 years left on the lease, from Brazilian billionaire Joseph J Safra. The 15,318 sq ft property was bought for a price reflecting a yield of just 1.7%. However, this is expected to improve after a rent review.
Property Week reports that The Crown Estate’s chief investment officer Paul Clark has stepped down after 12 years. Chief executive Dan Labbad will take over Clark’s responsibilities until his replacement is appointed.