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Hammersmith & Fulham Council has given consent to Development Securities (DevSec) to begin an urban redevelopment, consisting primarily of new offices at Hammersmith Grove, close to the Hammersmith & City Line underground station.
The site is currently owned by Transport for London and is used as a surface car park. Under the proposed scheme, it will be transformed into a ten-story office development by DevSec, in association with its funding partners National Bank of Dubai and Royal London.
Designed by Hamilton Architects, it includes a 20,000 sq ft Everyman multi-screen cinema, 15,000 sq ft of restaurants and 325,000 sq ft of office space.
"We are delighted to be bringing forward this £250m investment into the borough, which will regenerate this important site, create employment and add welcome town centre uses to reinforce Lyric Square." DevSec spokesman Simon Hesketh commented.
The design will implement best practice for environmental sustainability so it meets "current and future" requirements.