Property development and investment firm Almacantar has released its plans to redevelop the Marble Arch Tower.
It purchased the London office building situated on the corner of Oxford Street and Edgeware Road back in 2011. It’s now unveiled plans to demolish it to make space for a two separate buildings.
These two buildings – one 17-storeys high, and another seven-storeys – will provide 123,000 sq ft of London office space, 52 luxury flats, retail space and a cinema.
The project is expected to cost around Â£450 million, and has been designed by respected Uruguayan architect, Rafael ViÃ±oly, who’s also responsible for designing the Battersea Power Station redevelopment.
Depending on planning permission being granted by local authorities, work on the project is scheduled to commence in 2015, with construction set to be completed in 2018.
Commenting on the plans for the Marble Arch Tower scheme, Kathrin Hersel, development director at Almacantar said: “Our plans for Marble Arch will create two timeless beautiful buildings which will serve as a fitting gateway to Oxford Street.
“This landmark development will be a catalyst for the on-going transformation of the West End of Oxford Street, improving the streetscape for the 15 million people who pass through Europe’s busiest shopping thoroughfare each year as well as creating a world class residential and office scheme in a prestigious, Central London location,” she concluded.
By: Kirsty MacGregor
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