Crossrail and a series of new major redevelopments will transform the St Giles Circus area at the eastern end of Oxford Street, WC1. GVA and the New West End Company believe developments in the area, including the new Crossrail Tottenham Court Road station, Great Portland Estates’ redevelopment of the Royal Mail sorting office at Rathbone place and Land Securities’ and Frogmore’s Oriana development, could increase spending by £448m to £1bn by 2025. The new developments will add more than 1m sq ft of mixed-use space, including almost 350,000 sq ft of shops. Chris Goddard, senior director at GVA, said: ‘The unique advantages St Giles presents in terms of its location will support its development as a gateway to the West End and Midtown.’
Tottenham Court Road Western Ticket Hall:
Construction is underway for the Crossrail’s ticket hall, which will lead to a new station the length of three football pitches and four storeys underground. Due for completion 2017.
Almacantar and Frogmore are working up revised plans for the residential redevelopment of the 145,000 sq ft Centre Point office block. The Developers want to turn the iconic tower into an 82-flat scheme with 44,000 sq ft of shops and restaurants. Proposals will be submitted next month.
1 Oxford Street:
Derwent London has consent for a 500,000 sq ft over-site development of the new Crossrail Tottenham Court Road East station. It comprises 200,000 sq ft of offices and a 34,000 sq ft theatre. Work is due to begin from 2017.
Plaza Shopping Centre, Oxford St:
GVA has identified the site as one that landlord Sirosa has potential to substantially refurbish.
Quadrangle Building at 111-125 Oxford Street and 180 Wardour Street:
Resolution Property has permission to refurbish the building, converting seven flats for office use, and adding two storeys for new flats.
61-69 Oxford Street:
A Joint venture between Dukelease and British Airways Pension Trustees has consent for a six storey scheme comprising 33,858 sq ft of offices and six flats
Primark, 14-28 Oxford Street:
Oriana, the joint venture between Frogmore Real Estate and Land Securities, has now completed a 220,000 sq ft redevelopment of the former Zavvi and Sports Direct stores with Primark as the main tenant.
Former Royal Mail Depot, Rathbone Place:
Great Portland Estates are preparing to submit revised plans for a major redevelopment. Initial plans included a 380,000 sq ft mix use scheme.
1 Stephen Street/ Central Cross:
Derwent London is underway on a 256,000 sq ft office-led development. The first phase is due to complete in mid-2013.