The restaurant operator behind London favourites the Wolseley and the Delaunay has agreed to anchor a new mixed-use scheme at the centre of the regeneration of Notting Hill Gate, W11.
Corbin & King has agreed terms to lease the 11,000 sq ft ground and basement of Stranton Properties’ proposed redevelopment of 66-74 Notting Hill Gate.
Stranton – a joint venture between Simon Lyons’ Enstar Capital and Alan Lee’s Princeton Investments – has submitted plans for a 24,000 sq ft scheme including 10 flats. Quoting rent on the restaurant space is circa £500,000 sq ft pa and the flats will range in price from £2m to £8m, reflecting £2,500 per sq ft.
The scheme is the latest in a string of major developments around Notting Hill Gate, which have the potential to transform the area.
Development Securities and Brockton Capital are working up plans for the redevelopment of Newcombe House at 43-45 Notting Hill Gate, a one acre site including a 14-storey 1960s office block and a parade of shops opposite the Stranton scheme.
The Pears family is also pursuing redevelopment plans for several properties it owns at Notting Hill Gate.
In a letter to the Royal
Borough of Kensington & Chelsea supporting the scheme, Corbin & King chief executive Jeremy King said: “We are excited to begin a new venture
at the heart of Notting Hill
Gate and be part of this new redevelopment, introducing a new restaurant and retail offer which we are sure will help to regenerate and revitalise the area, contributing to the wider centre and the aims of the council.”
Shelley Sandzer and CBRE advised on the restaurant letting; Savills and Pilcher Hershman have been instructed to sell the flats.
jack.sidders@estatesgazette.com
