| White City - M&S Warehouse sold to St James, part of Berkeley Group 14:03 - Jul 1 with 3633 views | BillionR |
Doesn't sound like a new ground here - article below:
St James, part of the Berkeley Group, has acquired a 10 acre site in White City, London, from Marks & Spencer for around £100m.
The £100m for the existing M&S storage warehouse site will be paid over a period of three years. St James plans to redevelop the site and adjacent parklands into more than 4,500 homes.
The site forms the heart of a much larger regeneration programme led by major institutions including Westfield, Stanhope and Imperial College London. M&S has agreed a three year leaseback on the property, allowing it time to relocate to more modern premises.
Tony Pidgley, chairman of the Berkeley Group, said: “St James will use all its expertise in place-making to create a fantastic new location, with a public park, improved connections and homes for thousands of people.”
Peter Burns, executive director of CBRE’s central London development team, added: “This deal allows M&S time to undertake a relocation, whilst releasing a significant piece of the jigsaw of one of London’s most exciting regeneration areas. The development sits within a larger regeneration zone, and the residential element will attract considerable interest due to its central London location and phenomenal educational, retail and leisure attractions.”
Sir Edward Lister, deputy Mayor for planning, added: “This is an extremely positive step forward in the regeneration of White City which is set to deliver thousands of new homes. We have ambitious plans for this area’s wider development, seeking to build on its heritage, attract further investment and create jobs. I welcome St James’s Group’s contribution to this exciting vision.”
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| White City - M&S Warehouse sold to St James, part of Berkeley Group on 16:29 - Jul 1 with 3470 views | nadera78 |
It certainly would have been if you include the strip between the back of White City Station and the M&S Warehouses that is owned by the BBC. In fact, it's double the size of Loftus Rd.
Would have bee absolutely ideal for us. Shame. |  | | |
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