A £750m transformation of the former Middlesex hospital site in Fitzrovia, W1, was last night given the go-ahead.
The joint venture between Icelandic bank Kaupthing, Aviva Investors and Exemplar, comprises a total built area of 575,000 sq ft, with a mixture of uses, including office, residential and 291 flats.
Plans for the 3-acre site, formerly owned by Christian Candy’s CPC Group, have been subject to scrutiny over the number of affordable homes offered.
Westminster city council normally asks for 25% of homes in a new scheme to be affordable, however, Exemplar proposed 54 affordable homes along with a £2.1m contribution towards affordable housing elsewhere in the borough.
Mark Younger, director at Exemplar, said: “We are already bringing this vacant site back into use and anticipate strong demand for the offices, retail units and apartments once we begin marketing later this year. Our scheme will create new jobs, public space and homes in Fitzrovia, and ultimately a new community in the heart of the West End.”
The Lifschutz Davidson Sandilands and Sheppard Robson-designed scheme is due for completion in late 2014.
CBRE will advise on offices; it will also advise on residential alongside Savills.
joanna.bourke@estatesgazette.com
