by Karen Lennox of EGi
Schroders Properties’ managing director William Hill, adviser to Mitsubishi Real Estate on its Paternoster Square redevelopment near St Paul’s Cathedral, this week rubbished reports that the Freeman brothers are mus-cling in on the project.
His comments follow weekend reports that the Freemans, who are splitting from Argent, the quoted company they founded, were seeking a joint venture with Mitsubishi for a scaled down refurbishment of the Paternoster properties.
“There is no dialogue with Michael or Peter Freeman, either in a private capacity or representing Argent, between Mitsubishi or ourselves,” Hill said. Neither of the Freemans, who are both working out 12-month notices, were available for comment.
Hill added that Schroders expects to submit a detailed planning application on Mitsubishi’s behalf at the end of the summer.
The redesigned scheme of six individual buildings around a central square linked by underground access roads allows for each property to be funded and built separately.
The Royal Fine Art Commission, English Her-itage, the Dean & Chapter of St Paul’s and the City Corporation have all been consulted, said Hill.
“It has been a long haul because it is such a complicated site. We are eager that the proposals should meet everyone’s expectations,” he said.
“We have been presenting our ideas to interested parties and will hear what they have to say. We want to reflect their ideas [on the proposals] before making the application,” he added.
