The redevelopment will be completed in three phases if plans get the go-ahead from Westminster City Council. Phase one will be completed by 2011 and will see the vacant upper parts from the third to eighth floors developed to house the Ibis Piccadilly hotel - much of it to be enclosed behind a new glass elevation on the Shaftebury Avenue frontage. It will also see the introduction of new A3/A4 units on Shaftesbury Avenue to include restaurant/bar units to support the character and requirement of TheatreLand.

Phase two will see the redevelopment of the basement to second floor retail and leisure area, creating larger and brighter, outward facing retail outlets and restaurants along the newly pedestrianised Coventry Street, as well as the introduction of a police facility on Rupert Street to ensure high security. Phase three will see further development of large retail and restaurant/bar units across the site, all accessed externally.

Additional benefits include greater access for disabled people and improved lighting and CCTV facilities along the adjacent streets.

Golfrate development director Michael Hughes said: "We truly believe the transformation of the London Trocadero site will have a resounding positive impact on the surrounding area, giving a long overdue rejuvenation to the Shaftesbury Avenue area."

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