Land Securities has agreed construction contracts for three schemes as part of a £655m West End development programme, including a prominent development on Oxford Street.
Work will start on the 500,000 sq ft Park House project in May, representing the largest development on Oxford Street for 40 years. The mixed-use scheme provides 8,140 sq m of much-needed modern retail space, along with 15,140 sq m of offices and 5,380 sq m residential space. Mace will deliver the scheme after being awarded the construction contract by Land Securities, with completion scheduled for November 2012.
Victoria Street will see 1,540 sq m of ground floor retail and 11 floors of office space on completion of the Selborne House project in 2013. The third scheme – Wellington House – will also provide 5,540 sq m of luxury accommodation to the area.
Colette O’Shea, director of development for Land Securities London Portfolio, said: “To be the first major developer to state publicly that we are starting to deliver such a substantial development programme, demonstrates our financial strength and development capabilities as well as our confidence in the West End market.”
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