Stanhope and its partners Mitsui Fudosan and AIMCO are aiming to start the next phase of development at the former West London headquarters of the BBC within the next 12 months.
The £500m phase at the Television Centre in White City will include up to 500 apartments and a 100,000 sq ft office building.
Alistair Shaw, managing director of the Television Centre for Stanhope, said: “The next starting point for us is the office building and we’re working at getting the next wave of resi going.
“My instinct is that will be within nine months to a year and I would be surprised if we haven’t started the office building in that period as well.”
Next phase
The move to push ahead with the next phase at the scheme comes as the partnership nears completion on the £1bn first phase, which comprises 432 flats and a 270,000 sq ft office building.
Prices for the flats, designed by AHMM with creative consultation from Suzy Hoodless in the first phase, begin at £645,000 with an average price across all 432 of £1m, equating to £1,150 per sq ft.
Of the 432 flats, 341 have been sold and 80 of those unsold are still being fitted out, with completion expected by the end of August.
The office building, in which rents average £50 per sq ft, has also welcomed its first tenant, The White Company.
Soho House is also in the process of opening up its club, hotel and gym at the site with an official launch later this month. The Electric Cinema is to open in July.
The retail element at the Television Centre is nearly all let with the sales pavilion now under offer to an unnamed restaurant, while the second outlet of Chelsea restaurant the Bluebird and Terry Wogan’s son’s pizza restaurant Homeslice are open.
White City Place
Stanhope is also developing 2m sq ft at White City Place, close to Imperial College London’s White City Campus development.
The firm has already built 1m sq ft of office space and tenants include Net-a-porter, Huckletree, the BBC, ITV and recent addition OneWeb, a company creating a satellite-based network to provide affordable broadband-quality internet access.
OneWeb has moved to the area to enable collaboration with Imperial, and Stanhope is hoping to attract more tenants looking to relocate to White City to be near the college.
“We’re very interested in that triangle [Hammersmith Hospital, Imperial College’s campus and the office space at White City Place] providing a great space to be the home for science. We’re trying to create a good ecosystem for science where you’ve got small businesses start-ups, academic ideas, the best academic talent, the best practitioners and the best office space at an affordable price,” Shaw said.
He added: “The area was almost all industrial and this has happened [the regeneration of White City] in four or five years. The scale and the speed of it is unusual and that’s because there are only really four big investors [Berkeley, Imperial, Stanhope and Westfield] and they’re serious and committed,” Shaw said.
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