Hammersmith & Fulham council has exchanged contracts to sell Fulham town hall to American retail and leisure group Dory.
Dory plans to transform the Grade II listed building into a shopping arcade that will include a flagship store for Maclaren.
The former council chamber will be an “educational bar” where residents will be able to take part in public interest and safety demonstrations of Maclaren products. It will also be made available for community events and lectures.
Dory also proposes a number of boutique shops, including Albert Thurston, and a restaurant.
The upper floors will be extended and converted to provide 20 new flats.
Dory must secure planning permission and Listed Building Consent to proceed with the sale of the building.
The council expects a planning application to be submitted and considered in 2014, with the sale likely to be completed in 2015.
The council chose to sell Fulham town hall in February 2011 as part of its plans to slash its historic debt, which at the time stood at £124m.
This policy has now seen the council’s debt fall below £100m for the first time in 26 years.
Dory was selected as the council’s preferred purchaser in February 2012.
Leader of the council, councillor Nicholas Botterill, said: “This exciting and innovative scheme will provide Fulham town hall with a new lease of life and reinvigorate Fulham as one of the capital’s premier shopping destinations.
“Fulham town hall has been a landmark building in the borough for more than 100 years and Dory is steadfastly committed to respecting its rich historical character and public heritage.
“As well as boosting Fulham, this scheme will improve the council’s finances by significantly reducing our debt levels, create numerous jobs and launch a new era of prosperity for this famous building.”
Annabel.Dixon@estatesgazette.com
