Howick Place construction ready to start
Construction of new, mixed-use building containing offices in the upmarket area of Victoria, London SW1 is set to start following the demolition of an existing building.
The speculative development at 1-7 Howick Place (pictured) will create a new building offering approximately 140,000 sq ft of Grade A office accommodation along with apartments and a ground floor retail unit.
Joint developers Doughty Hanson and Terrace Hill Group have appointed Kier as main constructors and the 18-month build is expected to start next month following the completion of the demolition works. Debt financing has been provided by Aareal Bank AG.
Six floors of the proposed 8-storey building will be made available for offices. Floor plates will be in the range 15,000 sq ft to 20,000 sq ft. The former, 155,000 sq ft building on the site was used by retailer House of Fraser as mixed-use retail and office accommodation.
Architects for the £45m scheme, Rolfe Judd, have designed a glass and red-brick building to complement the existing buildings in a conservation area. Planning permission for the scheme was granted in January 2009 after successful negotiations with the Mayor’s Office. The new building will incorporate a range of sustainability measures and is expected to achieve a BREEAM rating of ‘Excellent’.
Philip Leech, Chief Executive of Terrace Hill said: “We are already seeing rental growth in the Victoria office market which we expect to be sustained over the next three to four years.”
An autumn, 2012 completion date is expected. Marketing agents for the offices element of the scheme are Cushman & Wakefield and CB Richard Ellis.
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