London & Oriental has unveiled its redevelopment of the SW1 buildings that formerly housed the headquarters of the Labour Party and Rolls Royce.
The 240,000 sq ft mixed-use scheme, designed by Fletcher Priest Architects, comprises 55,389 sq ft of offices, 11,334 sq ft of shops and up to 65 private rented apartments across three buildings in Victoria and St James’s, SW1.
The scheme’s existing tower will form No. 1 and No. 2 Buckingham Green alongside two new buildings – No. 3 Buckingham Green and the Gate House.
No. 1 Buckingham Green will contain luxury one-, two-, three- and four-bedroom rental apartments from floors 5 to 15.
No. 2 Buckingham Green will contain 24,715 sq ft of flexible office space on the four lower floors of the tower.
The 16-storey tower will provide separate entrances residents and office occupiers.
Office floorplates between 2,000 and 6,000 sq ft will be available across Buckingham Green’s three buildings to meet occupier demand for smaller suites.
No. 3 Buckingham Green will be newly constructed on the north side of the site and will contain 28,183 sq ft of offices over five floors, a private roof garden and terraces for occupiers.
The Gate House will house a further 2,491 sq ft of office accommodation across two floors.
Retail at Buckingham Green is expected to comprise boutique shops and restaurants and resemble nearby Elizabeth Street, SW1, which was designed to recreate some of London’s “village” districts like Chelsea and Marylebone.
Retail rents in the area broke the £275 per sq ft barrier along Victoria Street.
Mark Cannell, partner, London & Oriental, said: “Buckingham Green will create a new estate between Victoria and St James inspired by the area’s rich architectural and cultural heritage. The neighbouring area has undergone a significant transformation with large-scale development delivering new office accommodation and improved amenities to make Victoria one of the most desirable new locations for occupiers.
“However, we see an opportunity to deliver a scheme that complements this change by creating a new community for occupiers with smaller space requirements, one that attracts new residents to the neighbourhood. We have drawn inspiration from established London villages, such as Marylebone and Chelsea, and we hope to attract new boutiques and artisan eateries to the retail units to create a distinct destination.”
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