Gerald Eve LLP has provided town planning and financial viability advice to Land Securities on its landmark development of Portland House in Victoria.
The REIT has received planning permission from Westminster City Council to turn the former office building in Victoria into residential use. The scheme, designed by Sir David Chipperfield, will see Portland House converted in to 206 residential apartments with additional retail at street level. Land Securities is also building 63 affordable homes at nearby Castle Lane as a result.
The transformation of Portland House will form part of the wider planned regeneration of Victoria by Land Securities, where it currently has a 2m sq ft development pipeline for Victoria and plans to invest £1.7bn during the next decade.