Wendover Investments has brought a £400m residential-led development opportunity in Vauxhall to market almost a decade after plans for the site were first conceived.
Knight Frank has been appointed to sell Vauxhall Cross, which has consent for a Squire and Partners-designed 627,000 sq ft mixed-use scheme, next to Vauxhall tube station, SW8.
Offers in excess of £65m are expected.
The proposals comprise 291 flats in 38 and 29-storey towers and a 107,400 sq ft hotel.
Eric Pickles gave the green light to the Vauxhall Cross development in August 2012, ending a long planning battle.
The go-ahead followed seven years of wrangling until the environment secretary overruled Lambeth council and opposition from community groups to approve the skyscrapers.
Special-purpose vehicle Kylun, controlled by the son of the chief executive of UAE-based Fal Oil, was brought in to help fund planning in 2009.
It submitted plans for the pair of towers to Lambeth council in July 2010.
Charles Dugdale, partner at Knight Frank, said: “Vauxhall Cross is the linchpin for the proposed transformation of Vauxhall. There is a genuine value-add opportunity to re-plan Vauxhall Cross, embracing Lambeth council’s ambitions for the area and the revised upper building height threshold.”
Montagu Evans and BNP Paribas Real Estate advised on planning.
