Work to begin on �40m Edgware Road retail and office development
COntract sealed for welcome regeneration plans in ‘neglected’ Edgware Road
A major �40million office, retail and residential multi-use development is to be built on Edgware Road.
Marble Arch House, situated on the corner of Edgware Road and Seymour Street, will consist of 60,000 square feet of offices, 15,000 square feet of retail space, ten luxury residential apartments and a 5,000 square foot restaurant.
Planning permission for the development was awarded to the Portman Estate, which owns the land, last July and last week it was announced British Land will be responsible for the work.
The development marks the third venture between the developers and landowners after projects on Seymour Street and Baker Street.
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Tim Roberts, head of offices at British Land, said: “We are pleased to have secured another great development opportunity on the Portman Estate.
“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.”
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British Land will pay �18million for the site and will be granted a long-term lease once development is complete.
Portman Estate Chief Executive, Gareth Clutton, 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.”
Bryanston and Dorset Square councillor, Audrey Lewis, says she welcomes major development in the Edgware Road area.
“I would like to see more shoppers coming into Edgware Road,” she said. “I think it has been a bit neglected by people in recent years and I welcome a major reconsideration of the area.”
But Hyde Park Safer Neighbourhood Panel chairman Jack Gordon says he questions whether the development will bring in such vital regeneration to the area. “If it’s the starting signal to develop the whole of the Edgware Road in an attractive and compelling way then it should be welcomed,” he said.
“But these individual efforts at development are not solely going to change the look of an area, which is in desperate need of developing.
“That end of Edgware Road doesn’t seem to me to be in need of redevelopment in the same way that other portions of the road are crying out for it.”
Work on the project is expected to start this summer and is scheduled to end in mid-2013.