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Having previously blocked Renzo Piano’s initial design for a 72-storey residential pole, Westminster City Council has now approved ‘The Paddington Cube’ – a 360,000 sq ft, mixed-use scheme that will sit on a 12-meter podium.
It will provide 4000 new jobs, 80,000 sq ft of new retail and restaurant space over five levels, as well as a rooftop restaurant, with office accommodation making up the rest of the square footage. 1.35 acres of new public space will be provided, designed to improve pedestrian movement, in addition to better access to Paddington Station, as well as a new Bakerloo Line station and ticket hall costing £65 million.
Eugene O’Sullivan, a Surveyor and Director at Morgan Pryce says; “It is estimated that the project will cost the developer, Irvine Sellar, £775 million once completed, and will occupy space previously taken up by the Royal Mail Sorting and Post Office. Paddington is in need of a revamp and vacancy rates are currently nice and low”.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.