The £300m third phase of Chelsfield’s Paddington Basin development, W2, which includes the Grand Union Building, has been given planning consent by Westminster council.
The 1.1m sq ft (102,190 sq m) mixed-use scheme, designed by the Richard Rogers Partnership, will include 650,000 sq ft (60,385 sq m) of offices built in six linked blocks and 281 flats built in four linked 15-storey buildings.
The scheme will be situated on 2.75 acres (1.11ha) at the east end of the basin.
According to Chelsfield’s vehicle for the Paddington Basin development, Paddington Development Corporation (PDCL), the 28-storey scheme will be “the landmark identifying Paddington”.
PDCL has already prelet 450,000 sq ft (41,805 sq m) in the first two buildings in Paddington Basin – the Point and Waterside – to Orange and Marks & Spencer respectively.
The Point will be completed next week with Waterside due to be handed over to Marks & Spencer in May 2003.
It is understood that Chelsfield will not begin construction of the Grand Union Building without a substantial prelet.
EGi News 03/02/03
