Shaftesbury PLC, the West End-focused Real Estate Investment Trust, announces that Westminster City Council’s Planning Committee yesterday evening resolved to grant consent for the Group’s application to reconfigure and extend 57 Broadwick Street, Carnaby, a prominent building at the eastern gateway to Carnaby.
Their scheme for the building, which was acquired in March 2014, provides for:
- The creation of flagship retail space and a restaurant, together extending to 11,000 sq. ft. over the lower floors;
Refurbishment and extension of office space on the upper floors, to provide 20,000 sq. ft. of grade A accommodation; and - Two apartments totaling 2,000 sq. ft.
They expect to commence works in the spring, following the expiry of existing occupational leases in April 2016, with completion in phases from late 2017. The cost of the scheme is currently estimated at £14m.
Broadwick Street, already an important street in west Soho, links Carnaby and Berwick Street. It is expected to benefit from changing footfall patterns following the opening, in 2018, of the Crossrail Tottenham Court Road station’s western ticket hall, on Dean Street. Shaftesbury say their scheme, together with neighbouring developments and public realm improvements, are revitalising the street, bringing shops and restaurants along this increasingly busy eastern route in to Carnaby.
SHB : Shaftesbury gets planning for 57 Broadwick Street