Great Portland Estates has received provisional planning permission from the City of Westminster for its proposed 414,000 sq ft (38,500 m2) development at Rathbone Place in London.
Great Portland Estates has received provisional planning permission from the City of Westminster for its proposed 414,000 sq ft (38,500 m2) development at Rathbone Place in London.
The plans for the 2.3 acre former Post Office site involve a redevelopment which will provide a set of new buildings including a new public square, 42,000 sq ft of retail space, 217,000 sq ft of offices and 155,000 sq ft of residential in 162 units. Gerald Eve was the planning adviser.
GPE acquired the site in November 2011, leasing it back to Royal Mail Group, which vacated the premises in August 2013.
GPE plans to start work on Rathbone Place in 2014 for completion in 2016.
In a statement on Wednesday, the UK company said the development will be a major contributor to the regeneration of the East End of Oxford Street, ahead of Crossrail opening in 2018.
'Rathbone Place will be one of the West End's most exciting new developments and is one of several projects GPE are working on for delivery over the next few years,' commented Neil Thompson, GPE portfolio director.
