MLC chief executive says developer will be sounding out contractors for largest project in coming months
The developer behind the restoration of London’s iconic St Pancras hotel, Manhattan Loft Corporation, has amassed a £500m development pipeline, Building can reveal.
In an interview with Building, Harry Handelsman, Manhattan Loft Corporation (MLC) founder and chief executive, said the firm plans to sound out contractors about building its largest planned development - £250m 42-storey luxury residential tower Manhattan Loft Gardens in Stratford - within the next couple of months.
Handelsman also disclosed MLC plans to develop its £100m Fashion Hub - a fashion-focused retail-led development in Hackney - over the next three to four years. In addition, MLC is aiming to submit plans for a £100m-150m biomass plant development in Pembrokeshire, Wales, within the next few months and is bidding for an undisclosed development opportunity in north London.
Handelsman spoke out against the “incredibly unhealthy” phenomenon of overseas investors fuelling the London property market. He said he had resisted pressure from potential lenders to sell the Manhattan Loft Gardens development overseas. Manhattan Loft Gardens will include 248 private flats, as well as several facilities open to the public, including a spa and two restaurants.
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