BT’s property trading arm Southgate Developments has agreed £25m worth of deals with three residential developers.
In London, Southgate has formed a joint venture with Persimmon Homes to redevelop Millbank Telephone Exchange on Vauxhall Bridge Road, SW1. Proposals for the 0.1ha (0.25 acre) include 50 luxury flats. DTZ Debenham Thorpe acted for Southgate.
Meanwhile, in Tunbridge Wells, Kent, Southgate is developing 40 flats with Crest (South East) Homes. The 0.3ha (0.75 acre) site houses the 3,251 sq m (35,000 sq ft) former BT offices on Church Road.
And in Newbury, Trencherwood is partner developer for an 80-apartment scheme on 0.9ha (2.3 acres) in the town centre. BT plans to vacate the site in October and outline consent is already in place.
King Sturge is advising Southgate on the Tunbridge Wells and Newbury schemes.
EGi News 05/07/99
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