Phones 4U founder John Caudwell has secured a three-year breathing space to explore development options for his luxury Audley Square project in Mayfair.
The council last night approved Caudwell’s application to renew the existing planning permission, which was due to expire in February, for the proposed development on South Audley Street, Waverton Street and Hill Street, all W1.
The council had recommended the extension for refusal because it no longer suited residential criteria under new policies introduced by the Core Strategy and London Plan.
The South Audley Square project was granted planning permission in 2010. It proposes the redevelopment of the site into a single building comprising 24 flats. It would see the street-sweeping depot on Waverton Street relocated from its existing site in Farm Street. The approved scheme also allowed for a £6m contribution towards affordable housing.
Caudwell bought the site from Ireland’s National Asset Management Agency in October for £150m.
annabel.dixon@estatesgazette.com
