Derwent London gets control of Tottenham Court Road site – Derwent London has announced that Crossrail has completed the base infrastructure works at Soho Place W1 and handed over the site to the group. It is the first Crossrail site to be delivered to a developer, and this has been achieved almost a year before the Elizabeth line is due to open. There is planning for a 285,000 sq ft project over Tottenham Court Road station comprising 209,000 sq ft of offices, 36,000 sq ft of retail and a 40,000 sq ft theatre. Derwent London will now start enabling works with the intention of appointing a main contractor later in 2018.
John Burns, chief executive officer of Derwent London, said: “The Elizabeth line will transform London and we are delighted that Derwent London, working alongside Crossrail, will be responsible for developing one of its most important sites at the eastern end of Oxford Street. The scheme will create a vibrant mix of office, retail and theatre use over what is expected to be one of its busiest central London stations and in a fast improving location at the heart of central London.”
Ian Lindsay, Crossrail Land & Property Director, commented: “This is the first Crossrail site to be handed over for full construction of the development above. Tottenham Court Road is our flagship development with Derwent London and our highest value commercial site. The creation of new retail and commercial space including the first new West End theatre in a generation, will not only support the continued regeneration of Oxford Street but will help shape the future of this historic area in central London.”
DLN : Derwent London gets control of Tottenham Court Road site