Client: Derwent London, Paddington Basin
Gerald Eve LLP recently acted for Derwent London in achieving a landmark decision upon its strategic site at 55-65 North Wharf Road, Paddington.
Derwent London instructed Gerald Eve LLP to advise on the comprehensive redevelopment within the heart of the Paddington Special Policy and Opportunity Areas. The site comprised a six-storey office building which was fully let and represented a significant standing investment for Derwent London, and was affected by unusually high development costs.
The redevelopment proposals comprised 30,000 sq m of offices, 100 residential units and retail floorspace, together with significant canalside and public realm enhancements.
The application proposals were supported by viability evidence which was independently scrutinised by consultants acting on behalf of The Mayor and City of Westminster, particularly in relation to the levels of affordable housing proposed and Section 106 offer. Both the City
Council and GLA were seeking 30% affordable housing provision.
Our planning team negotiated with the City Council and GLA following initial concerns raised to secure a resolution to grant planning permission from the City Council in January 2008. The Mayor subsequently supported the affordable housing offer (16% on site affordable housing) on the basis that due to the exceptional case, this constituted the maximum reasonable proportion that the scheme could accommodate in accordance with policy requirements.
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