INDUSTRY NEWS

Oakapple’s 18m Clapham office development approved

A Leeds based development group have been given the go-ahead to build an £18m mixed-use scheme in London.

With planning permission now granted, Oakapple will take on the ambitious development in Clapham, South London, in a move which will see them build 10,000 square feet of offices as well as 40 luxury apartments and also a basement level car park for 22 cars.

The firm actually bought the site for their planned development of the new London offices from Kone – a global lift and escalator manufacturer – back in 2006 as part of a sale and leaseback deal.

Part of this initial arrangement also included Oakapple refurbishing the existing offices for Kone, at a cost of £1.6 million.

Oakapple chairman, Philip Taylor, said he believed that the deal marked one of the most significant development projects for a Yorkshire based company this year.

He said: “It is great to be developing again. We are in a very fortunate position of having pre-let all the office space, and although the residential market remains stagnant in much of the UK, there is still great demand in London.”

This latest project will see Oakapple work with Kone for the third time, having originally worked with the firm ten years ago, when they developed offices for the company in Keighley.

Work is due to begin on the site in Spring 2013.

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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