Westminster approves Grosvenor's South Molton Triangle plan
West End retail may be reeling from the pandemic at present, but with a post-pandemic boom being predicted by some for the years to come, landlords and local authorities are clearly looking to a future recovery.
With that in mind, Westminster city council has given the green light to the largest development currently planned for London's West End. Grosvenor Britain & Ireland has secured planning permission for the South Molton Triangle, “a £500 million investment connecting Mayfair to Oxford Street”.
It should generate almost 1,000 permanent jobs in the long term as the mixed use scheme makes the most of the historic character of the area and adapts heritage buildings for contemporary use.
With a heavy focus on sustainability, the two-acre scheme will see a number of “narrow side streets and neglected buildings” opposite the new Bond Street West Station “transformed” to provide 67,500 sq ft of shops, as well as sustainable Grade A office space alongside, restaurants and cafes, a hotel and homes.
The giant London landlord said the redevelopment will help the West End recover from the impact of Covid-19, “delivering a new landmark next to Oxford Street [and] helping to attract an estimated £6 million of spend per year”.
Anna Bond, Executive Director of Development at Grosvenor Britain & Ireland said: “If you look closely at this neighbourhood today, it’s an area crying out for world-class public realm and sustainable office space, designed in a way that’s enticing to employers and workers in a post-pandemic world. The South Molton Triangle will re-make this part of Mayfair and help central London get back on its feet.”
The company is shouting very loudly about the sustainability aspect of the plan and said the Triangle’s new buildings will produce 37% less carbon than those built to current UK standards. “Servicing will only be by electric vehicles, reducing on-street pollution and traffic around the pedestrian-friendly scheme,” it explained. There will also be 360 bike spaces for residents, office and retail workers, plus 50 new on-street spaces for visitors to encourage the use of sustainable transport.
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