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RE to start London mixed-use scheme now plans approved

Asset manager RE Capital has obtained planning approval for a 78,000 sq ft (7,246 sq m) mixed-use destination development in London’s Victoria district.

Westminster council has passed a resolution to grant consent for Greycoat Stores at 10 Greycoat Place, a former Victorian warehouse building which RE Capital acquired from Derwent London in July 2019.

The development will comprise 69,000 sq ft of offices on eight floors as well as 5,000 sq ft of retail and leisure facilities on the ground and lower ground floors, and a 4,000 sq ft restaurant.

RE Capital aims to achieve a BREEAM Excellent rating, as well as Wiredscore Platinum and Wellness Certifications. Designed by architect Trevor Morris of SPPARC, the development will celebrate the original Victorian building.

Start on site expected in September

Construction is expected to start in September 2021 with completion anticipated in the first half of 2023.

“The scheme will offer one of the most compelling end-user experiences available in the market, bringing to life the rich history of the original building, whilst providing highly sustainable leisure and work spaces with some of the most outstanding views in London,” said Simon Banks, head of UK at RE Capital.

RE Capital has appointed Savills, BNP Paribas Real Estate and RX London as leasing agents.