The scheme will see the development of a new buildings reaching up to nine storeys in height to provide 128 flats and an eight-storey office building which will have shops and restaurants on the ground floor. The existing 1907 facade of the building will be retained.
The site sits on top of a network of London Underground and Royal Mail Group tunnels and the plans have been revised to facilitate a possible extension to the Bakerloo Line ticket hall below ground level. The original plan proposed 141 homes, 36 of which would be affordable. However, the reduced number of homes set out in the revised plans will all be private housing units. The revised plans also reduce the office space from 270,000 square feet to 96,000 sq ft.
As the development will not provide any affordable housing, RMG will instead make a £5 million contribution towards the provision of off-site affordable housing. It will also contribute £2.9m towards education, public realm, open space and public art.
RMG has said that it hopes the development will be completed between 2013 and 2015.
