Tishman Speyer gains consent for £300m London office redevelopment


Tishman Speyer has now gained approval for its major £300m London office mixed-use redevelopment project at Eland House in Victoria.

The redevelopment plan, now approved by Westminster City Council, will see a major transformation of the building including the addition of a new ground floor supermarket, retail kiosks and also ten floors of office space.

The supermarket had been the main point of contention over the plans, with the application differed by Westminster’s planning committee as a result.

Tishman was able to initially lodge the plans last year following an agreement with the Department for Communities and Local Government. The DCLG will now move its 1,200 civil servants to 2 Marsham Street, also in Victoria.

Work would see the amount of lettable space the building could provide increase from 23,876 sq m to around 29,728 sq m.

Speaking at the time of the planning submission, managing director at Tishman Speyer’s London office, Dan Nicholson, stated: “When we bought the building in 2012, we initially planned to refurbish it keeping the existing cladding, but we realised that we could do something much more interesting if we added a new and built onto the structural frame

Tishman bought the site from Land Securities in a deal worth £171.1m back in 2012. The 253,000 sq ft building, was originally built in 1995 by Land Securities.

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.