Development Securities has put in an offer of about £85-£90m to Regalian and NFC for the railway goods yard behind Paddington Station, in London.
The price is more than 50% higher than the original estimates of the site’s value. The yard has planning permission for 65,030 sq m (700,000 sq ft) of offices and homes.
A Chelsfield and European Land joint venture is thought to have secured Visa as anchor tenant for its £300m waterside development at Paddington Basin. Frogmore and Rialto Homes are planning a nearby residential development. Some 371,600 sq m (4m sq ft) of offices, flats and shops are expected from various schemes in the area.
The Daily Telegraph 01/11/99 page 26 (The City Checklist)
The Times 01/11/99 page 27
