INDUSTRY NEWS

BA Pension Trustees to fund London offices in mixed-use scheme

British Airways Pension Trustees Ltd are set to fund a new development – featuring a mix of shops and London offices – according to an article published by Bloomberg Businessweek.

Measuring 66,000 sq ft, the development, located at 61-67 Oxford Street and 11-14 Soho Street will include 1,560 sq metres of office space, as well six apartments, papers submitted by developer, Dukelease Properties Ltd to Westminster Council have revealed.

It will also feature 3,700 sq metres dedicated solely to retail space.

The Oxford Street site was originally acquired by the pension trustees in November 2009 for a fee of £18 million.

Businessweek stated that they had unsuccessfully tried to contact Dukelease’s projects director, Paul Cook; meanwhile the British Airways Pension Trustees Ltd declined the opportunity to comment on the development.

However, in their planning statement for the development, developer Dukelease, stated: “The introduction of a large single-tenant retail space here will contribute greatly to the regeneration of this end of Oxford Street.”

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