INDUSTRY NEWS

AXA receives approval for Victoria London office led mixed use project

AXA Real Estate Investment Managers has been given consent for a London office led mixed-use development opposite Victoria Station.

Westminster Council has approved the project which will lead to the creation of 150,000 sq ft of London office space, residential and shops across nine storeys.

Designed by design consultancy SPARK, the scheme is known as The Department. It is set for completion by late 2015.

The ground floor areas will be dedicated to retail space while the 100,000 sq ft of office space will feature floor to ceiling glazed windows with access on Wilton Road, opposite Victoria Station.

Mixed-use development planning policies mean any such properties must also feature things such as residential space. In this case The Department will feature 14 apartments across its top three floors.

AXA Real Estate Head of UK Development, Harry Badham, said: “Having worked closely with the local planning authority to design a scheme that will dramatically improve the building by creating a highly sustainable prime new office, residential and retail destination, we are very pleased to push ahead with our plans for the development of The Department.

“This project is another example of how we aim to create value from our long term portfolio by utilising AXA Real Estate’s development expertise.”

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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