The developer of the World Trade Centre London has overhauled its plans because of the slump in office demand.
The 2m sq ft Docklands scheme was due to be developed almost entirely as an office and leisure scheme. But developer Capital & Provident will now redesign one of its office buildings as flats.
The 336,245 sq ft (31,237 sq m) Building 4 will be replaced with the 24-storey Discovery Dock – comprising 185 apartments and three penthouses.
The building, which is owned by one of three offshore development trusts managed by C&P, will be the only private residential building in the WTCL complex.
Sunny Crouch, chief executive of the WTCL, admitted that one of the reasons for the decision was the downturn in the London office market. She said: “We think it would be too good an opportunity to miss to make use of the well-performing residential market.”
See Saturday’s Estates Gazette for the full version of this story.
EGi News 28/03/02
