Prudential has scaled down plans for its troubled 1.8ha (4.5 acre) redevelopment of Knightsbridge Green, SW1.
The Pru, which last March suffered the double blow of losing a High Court battle over ownership of a wall on the site and the rejection of its design by Westminster council, said the end value of its scheme is now about £350m – £150m down on its estimated value last March.
Colin Jones, Pru’s central London development director, said that the residential and commercial scheme at the south west of Knightsbridge Green will be smaller.
But Jones added that the retail element could double if Prudential wins the appeal next January against the High Court awarding Waterloo Real Estate the ownership of a wall on Raphael Street.
EGi News 30/10/98
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