British Land to redevelop a Piccadilly site
British Land is planning the multi-million pound redevelopment of a site in Mayfair which overlooks Green Park. The £129.6m deal includes the acquisition of Clarges House, 6/12 Clarges Street and 82/84 Piccadilly.
The purchase is expected to be complete in November 2012, making way for the site to be redeveloped with a mixed-use scheme for which planning was granted in April 2011.
The scheme has been designed by Squire & Partners and includes 63,000 sq ft of luxury private residential units with 7,900 sq ft of retail below as well as 91,000 sq ft of high quality offices and a new Kennel Club building.
British Land head of offices Tim Roberts said “I am excited by this unique opportunity to buy nearly an acre of land in Mayfair, where we can leverage our financial and development expertise to add value. The scale of development will create a landmark building and will further enhance British Land’s presence in the West End.”