Out-Law News | 03 Dec 2014 | 5:17 pm | 1 min. read
Real estate investment trust Derwent London applied to the Council in August for full planning permission to demolish a six storey 1930s office building on the corner of Savile Row and Boyle Street and replace it with a new building seven storeys high. The upper floors of the new building would contain 29 apartments with between one and four bedrooms under the proposals.
A report submitted with the application concluded that on-site affordable housing provision would not be viable at the site and Derwent London offered a payment of £7 million, against a local policy requirement for £10.7m, in lieu of affordable housing provision.
Ground floor retail provision of two units across 545 square metres was proposed, replacing a smaller commercial art gallery that currently occupies 198 sq m of the building's ground floor. A green roof, solar panels, and basement parking for 29 cars and 60 bicycles were also proposed.
The plans were on the agenda for consideration at a meeting of the Council's planning applications committee yesterday, having been recommended for approval subject to a section 106 agreement in a planning officer's report. The report concluded that "the proposed development is welcomed and would provide new residential and additional retail in accordance with adopted land use policies".
"Following the resolution to grant planning consent to redevelop 25 Savile Row as high grade residential apartments, we are finalising our plans which include obtaining vacant possession and relocating our own offices," said Derwent London chief executive officer John Burns in a statement.