British Land and Irvine Sellar are the latest major players to turn their attention to Paddington. Estates Gazette looked at what other development is planned in W2.
Last week British Land took a major plunge into Paddington, splashing £470m to buy the majority of the 1.2m sq ft office-led Paddington Central, W2, from Aviva Investors.
Irvine Sellar, meanwhile, is holding talks with key landholders near the railway station including Network Rail and Transport for London over a 750,000 sq ft mixed-use scheme.
Research from Colliers International shows there are a further six major development schemes in the pipeline for the area totalling 1.1m sq ft.
Four of the schemes have already secured planning permission, the biggest of which is Derwent London’s 55-65 North Wharf Road.
While Paddington’s existing Grade I listed railway station cannot be redeveloped without permission from English Heritage, the area is set to benefit from the arrival of Crossrail, with a new 15-storey, 320,000 sq ft station development to open from 2018.
nick.whitten@estatesgazette.com
