Land Securities is set to replace Strand landmark Arundel Great Court with a 1m sq ft Wilkinson Eyre-designed mixed-use scheme.
The UK’s largest property company has submitted proposals to Westminster council to demolish the 1970s office block and replace it with flats, offices, a hotel and shops.
The 3-acre site, which goes from Strand to Temple Tube station on the north bank of the River Thames, currently includes offices, shops and the 146-bedroom Howard Hotel.
A 14-storey building is planned for the south side of the site, overlooking the Thames, comprising 151 flats totalling 279,000 sq ft, and a 162,000 sq ft, five-star hotel with 98 rooms and 18 serviced suites.
LandSec is seeking permission from the council to locate the required 50% social housing off-site.
Under the proposals, a nine-storey building on the north side fronting the Strand will be replaced with a 620,000 sq ft office building, as well as 31,000 sq ft of restaurants, and shops, and public space.
The REIT has owned the site since July 2006 when it agreed a £306m deal with the Hong Kong-based Ho family, representing a net initial yield of 5%.
A public consultation into the proposals will begin this month and, subject to planning, work could start on site in autumn 2009.
