Developer buys site for Bennetts Associates scheme in Marble Arch
Developer British Land is to redevelop London west end office Marble Arch House with a £40m building designed by Bennetts Associates.
The developer said it had agreed to purchase vacant possession of the buildings, on 32-50 Edgware Road and 62-64 Seymour Street, for £18m from the Portman Estate.
It intends to build 60,000 sq ft of offices on the site, with a further 15,000 sq ft of retail space, ten adjacent luxury apartments and a 5,000 sq ft restaurant behind a retained period Victorian facade. Bennetts Associates design achieves BREAM excellent rating.
British Land said demolition of the existing buildings will begin in the middle of the year, with completion of construction intended by mid-2013.
The news comes after Building last week revealed British Land has compiled a short-list of four contractors to build the revived £340m Richard Rogers-designed “Cheesegrater” tower at 122 Leadenhall. The shortlisted builders are Mace, Skanska, Sir Robert McAlpine and Laing O’Rourke. The original contractor, Bovis, and other bidder, Balfour Beatty, have been ruled out.
Tim Roberts, Head of Offices at British Land said, “Marble Arch House will offer high quality accommodation at a time when supply will be limited in a West End location which is being regenerated.”
Gareth Clutton, chief executive of The Portman Estate, said: “There was a great deal of interest in this development opportunity but British Land’s proposal eclipsed the others and we are delighted to work with them again on this their third major transaction on The Portman Estate”