Almacantar, advised by Gerald Eve, has secured planning permission from Westminster City Council for its planned redevelopment of Marble Arch Tower on the corner of Oxford Street and Edgware Road.
Under the proposals, the existing tower will be demolished and replaced with a Rafael Viñoly-designed scheme incorporating residential, offices, shops, a multi-screen Odeon cinema and new public space. In all, the scheme will create 123,000 sq ft of offices, 36,000 sq ft of retail space and 53 private apartments within two new buildings of 17 and seven storeys.
Work is due to start on the project in 2015, with completion anticipated in 2018.
In addition, Almacantar also received planning permission for a mixed-use scheme, designed by Terry Farrell & Partners, at 466-490 Edgware Road. This scheme will feature 76 townhouses and apartments, of which 47 will be affordable units, as well as some retail provision.
Hugh Bullock, senior partner and head of planning and development at Gerald Eve, said: “The planning committee’s decision to give a green light to the proposals reflects not only the quality of the scheme but also its importance to the regeneration of this end of Oxford Street.”
Kathrin Hersel, development director of Almacantar, said: “This development will create two timeless, beautiful buildings which will become a new landmark for the West End. Our plans will deliver world class residential, retail and office space in a prestigious setting overlooking the finest of the Royal Parks.”