Sellar, on behalf of Great Western Developments, has started work on the £825m creation of a new office, retail and leisure destination at Paddington Square, W2.
JLL and Knight Frank have been appointed joint letting agents for the entire scheme, which is adjacent to Paddington station.
The development will comprise a Renzo Piano-designed, 360,000 sq ft office building; a £65m investment in transport infrastructure including a new Bakerloo line ticket hall; a 75,220 sq ft retail and restaurant space, featuring a 13,650 sq ft rooftop dining experience and a new 1.4-acre public square.
The site was acquired by GWD in late 2014 and planning consent was granted by Westminster City Council in August 2017. It includes 31 London Street, W2, the former Royal Mail Sorting Office, and the adjacent 128-142 Praed Street.
James Sellar, chief executive of Sellar, said: “We are pleased to launch Paddington Square, this transformational redevelopment of the entire area immediately around Paddington Station that will create a vibrant destination bringing an exciting retail and leisure experience and much needed commercial life.
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“Paddington Square will dramatically improve transport connectivity with a new Bakerloo line station and a new public space. With the arrival of the new Elizabeth Line, Paddington will become one of the capital’s major transport hubs with direct fast links to Heathrow, the West End, the City and Canary Wharf.”
The partners said they intend to create “more than just a transport hub but a place to wine, dine and shop”.
London Street will be closed to create a natural link between the mainline station and the new public square which, together with the new Bakerloo line entrances, is designed to eradicate the rush hour traffic and pedestrian chaos. A new road will be created on the eastern edge of Paddington Square.
Ian McCarter, head of West End Office Agency at Knight Frank, said: “Paddington is coming of age. The magnificent Renzo Piano-designed scheme will have enormous appeal to international and blue-chip occupiers.”
Adrian Crooks, head of West End Agency for JLL, said: “Paddington Square is a globally significant landmark scheme that will integrate Paddington into the heart of the West End through a vibrant combination of public realm, retail and office amenities.”
It is expected that the entire site will be scaffolded by the end of May enabling demolition to commence. Demolition will be completed by the end of 2018 with construction starting in Q1 2019 with practical completion by the end of 2021.
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