A weekly round up of the latest planning and property news from the central London boroughs
Camden New Journal reports that a planning inspector ruled that Camden Council was correct in turning down a bid by Thai Square restaurant chain owner Haim Danous to redevelop The Odeon cinema in Shaftesbury Avenue, Covent Garden in 2019. His property firm, Capitalstart Ltd, had hoped to create a new 10-storey, 94-bedroom luxury hotel on the site. It would have included a three-storey-deep basement for a health spa, four cinema screens and a roof terrace bar built above.
City of London
Property Week reports that Aldgate Developments has sold BT’s new London headquarters to German investor Union Investments for more than 429m. One Braham is let to BT on a 15-year lease, with the telecoms giant expected to move in later this year. The 18-storey building, which completed in October 2020, contains around 340,000 sq ft of office space.
The Hackney Citizen reports that the London Stock Exchange development in Shoreditch has drawn fire from neighbours before it has been built, with representatives of One Crown Place (OCP) warning that its construction will result in an “incredibly poor environment for future residents”. The new block at the Stock Exchange will feature over 65,000 sq m of office space, with large roof terraces alongside retail units and restaurants. Of the total floorspace, eight per cent will be let at an affordable level of less than 40 per cent of market rates – less than the 10 per cent council target.
Hammersmith and Fulham
Property Week reports that Luxury fashion brand Ralph & Russo is looking to dispose of its headquarters in White City, following its recent fall into administration. The company is understood to be offloading two thirds of its 30,000 sq ft space in the Mediaworks building – around 20,000 sq ft – which is used as its HQ and atelier space. The British haute-couture fashion brand relocated from Chelsea to White City in May 2019. It doubled its space by signing for 30,000 sq ft to accommodate around 400 staff.
Kensington & Chelsea
The London Post reports that TfL & Native Lands are to make further amends to their Development Plans for South Kensington. The planning application from Transport for London (TfL) and its development partner Native Land (NL), for the ‘Around Station Development’ at South Kensington, was due to be heard by the Kensington & Chelsea Planning Committee this week. The meeting was however cancelled to give time to enable the development proposals to be amended. There has been a significant groundswell of public opinion against the proposals with at last count 2,342 objections to the application and amendments by local residents and many small business around the South Kensington tube station.
Architects Journal reports that The Garden Museum in London has launched an open contest for a new pavilion on Lambeth Green. The competition seeks proposals for a new permanent building to be used by staff and volunteers to maintain a planned new 2.14ha park set to be named Lambeth Green. The winning concept will be constructed at the western end of St Mary’s Gardens, which is due to be become part of the larger Lambeth Green park stretching from the riverbank to Old Paradise Gardens.
Southwark News reports that developers of a proposed Bermondsey building that was rejected by Southwark Council’s planning committee for being too tall have drawn up new plans – for an even taller tower. CIT’s Vinegar Yard office, retail and community development on St Thomas Street by London Bridge was thrown out in June last year for its height and overshadowing effect on nearby housing and heritage sites. That building would have been 85.8 metres at the highest. The new plans show a new proposed maximum height of 97.1metres, decreasing in height from west to east.
Property Funds World reports that Investment manager and developer Fabrix has acquired 23-24 Gillender Street in the London Borough of Tower Hamlets. The 170,000 sq ft site sits in the Limehouse Cut Conservation Area on the River Lea, strategically placed for access to the City, Canary Wharf and Olympic Park, as well as acting as a gateway to the Lower Lea Valley and Bow. Fabrix has appointed architects MVRDV to transform the existing building.
The Evening Standard reports that London’s tallest residential block apartments to go on sale this week at £3bn Nine Elms development with prices starting from just under £1 million for a one-bedroom flat. The 53-storey skyscraper at the £3 billion One Thames City development on Nine Elms will be slightly higher than the nearby tower at St George’s Wharf. It is one of three towers in the first phase of the scheme with a total of 550 homes. They are being built by Chinese developer R&F in a joint venture with Hong Kong investment company CC Land.
Property Week reports that Grosvenor Britain & Ireland has signed 14 new lifestyle, health and beauty, interiors and hospitality occupiers to Mayfair and Belgravia. Joanna Lea, retail director at Grosvenor Britain & Ireland, said: said: “We’re constantly innovating to ensure we attract the very best new concepts and driving all-important customers to our places. Our Tenant Investment Fund, flexible leases and investment in marketing, outdoor dining and experiences are just some examples of how we’re achieving this. This partnership approach, strength of new openings in Mayfair and Belgravia and growing footfall on our streets are creating excitement and confidence in our places.”