Mike Hussey’s Almacantar has submitted plans for a major 408,000 sq ft redevelopment of Marble Arch Tower , W1.
The developer has submitted Rafael Viñoly-designed proposals to Westminster city council for a 17-storey, 53-flat tower at the corner of Oxford Street and Edgware Road.
The scheme would replace the existing 24-storey West End block.
A seven-storey block is also planned, with 123,000 sq ft of offices, 38,955 sq ft of retail space, public art works, and a new 39,000 sq ft Odeon cinema in a purpose-built underground basement.
Almacantar’s proposals come after it paid clients of Orchard Street Investment Management £80m in May 2011 for the asset.
To satisfy Westminster city council’s affordable housing requirements, Almacantar has also lodged Terry Farrell & Partners-designed plans, comprising 76 flats at 466-490 Edgware Road, W2. Forty-seven of the homes would be affordable.
The Edgware Road proposals also include reinstating a disused petrol station and retail space.
Subject to planning consent, the Marble Arch development would mean Almacantar is converting the two book ends of Oxford Street for residential use. On the eastern end of the street it is redeveloping skyscraper CentrePoint into a flats scheme.
Construction on Marble Arch Tower is expected to start in 2015, with completion of the scheme, as well as the Edgware Road project, in 2018.
joanna.bourke@estatesgaette.com
