Out-Law News | 19 May 2014 | 4:36 pm |
Under the plans the eight storey building, which is currently in use as offices, will be redeveloped into 22 flats with rooftop gardens. Galliard will make a financial contribution of £945,000 to the Council for off-site affordable housing.
Galliard Homes said in a statement that the project would be "like a new mini One Hyde Park", a major luxury residential development in London's Knightsbridge.
Galliard Homes chief executive Stephen Conway said that the scheme is the "most luxurious residential development undertaken to date in Westminster" and that it will help to raise residential values in the district to be in line with Mayfair and Marylebone.
"Prime London residential values have overtaken commercial, and this means that the West End, Westminster and Whitehall is rapidly transforming from being dominated by offices into addresses associated with London's most luxurious new residences and five star hotels. This project is the latest part in this ongoing evolution and we anticipate strong sales interest in the scheme," Conway said.