A £160m plan to redevelop 7 Millbank, SW1, is set to go ahead after local authorities voted to give the scheme the green light.
The 106-year-old nine-storey block, owned by British Virgin Islands-registered Baola Properties, is to be overhauled and replaced by a 130,000 sq ft office scheme, after Westminster planners approved the project earlier this week.
Old Park Lane Management, acting on behalf of Baola, plans to start work in 2022, with completion scheduled for 2025. The space could provide offices for parliamentary staff during the refurbishment of the Palace of Westminster.
Designed by Make Architects, the scheme will be Old Park Lane’s first development that is carbon neutral. The building’s existing period façade will be carefully dismantled and restored, with the new development behind.
The scheme will include a bigger reception, atrium and staircase, with terraces on the sixth, seventh and eighth floors. Old Park Lane said the building will be sustainable for the long term, with high standards of wellness, flexibility, and energy efficiency.
Originally built for British American Tobacco in the early 20th century, 7 Millbank is one of the only privately owned blocks on Millbank, and is currently occupied by the Parliamentary Estate. It sits as part of a group of buildings that surround Smith Square, SW1.
Tim Sketchley, chief executive at Old Park Lane Management, said: “We welcome this positive planning decision, which allows us to create an environmentally sustainable building with modern, adaptable workspace and amenity, for generations to come.
“As our first carbon neutral-in-use development, it sets a standard for the future, which we know is important to contemporary occupiers.”
Old Park Lane Management is a London-based private investment company formed in 1995, with more than 1.5m sq ft of assets in the central London market. The former boss of the Crown Estate, James Cooksey, is set to take the reins next month, when he joins as the developer’s new chief executive.
Its other major schemes include Linklaters’ upcoming headquarters at 20 Ropemaker Street, EC2, and LSQ, the 200,000 sq ft development on the west side of Leicester Square, W1, that is leased to tenants including Lego and the American NFL.
Gardiner & Theobald, Waterman Structures, Hilson Moran and WT Partnership are all acting as advisers. Gerald Eve is planning advisers.
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