John McAslan + Partners has been appointed to design a luxury residential and hotel conversion of the 33-storey Millbank Tower, SW1.
The Grade II listed tower at 21-24 Millbank, which is owned by the Reuben brothers’ Motcomb Estates, could also house a Holocaust museum.
Plans are expected to be submitted over the summer, with a view to completing the project by 2019.
The 408,000 sq ft, 33-storey office tower commands rents of between £25 and £46.50 per sq ft, but residential values in the area currently exceed £2,000 per sq ft, giving a residential project an end value of as much as £700m.
Ronald Ward + Partners designed the building for engineering firm Vickers in 1963. It later became the headquarters of the Labour Party.
Motcomb Estates bought the tower in 2002 from Tishman Speyer for around £120m.
A spokesperson stressed that Millbank was just “one possibility” for the Holocaust museum, adding: “The future plans for Millbank are still under consideration and a final decision will be submitted for planning in due course.”
