Westminister Council gave the go-ahead last night for the redevelopment of Romney House, located opposite the former DOE offices in Marsham Street, SW1
Tokyo-based Orix Corporation proposes replacing the existing 1930’s building, which bounds Tufton Street, Romney Street and Bennett’s Yard, with 19,485 sq m (209,741 sq ft) of offices and 370 sq m (3,982 sq ft) of retail.
Orix bought the property from CIN Property in 1990 for around £67m for the property in 1990. At the time the Japanese company indicated it planned to sell “securitised ownership units” in Romney House to investors. The building is let to the DOE, which has about 30 people in the building, on a lease which expires in 2003 and includes five-yearly reviews.
The application was first considered by the planning committee in December 1996, but the decision was deferred because of concern over the design. Orix has made architectural changes and the planners are now backing the scheme, subject to the Environment Secretary’s approval.
EGi News 27/06/97
