Almacantar - London, Almacantar unveils £530m Marble Arch plans
Date: 20 Nov 2013
Almacantar unveils £530m Marble Arch plans
Almacantar has today unveiled its eagerly anticipated plans for the redevelopment of Marble Arch Tower.
The proposed Marble Arch plans, pictured below, reveal a £450m 408,000 sq ft Rafael Viñoly-designed scheme.
The plans encompass 52 private apartments, 123,000 sq ft of offices, 36,000 sq ft of retail space and a new and improved Odeon cinema. Construction is expected to start in 2015 subject to planning consent and will be completed in 2018. Almacantar acquired the property in May 2011.
Marble Arch Tower sits at the corner of Oxford Street and Edgware Road and overlooking Hyde Park at the northern end of Park Lane.
Under the proposals, Almacantar envisages demolishing the existing 24 storey tower, which was constructed in 1967 and replacing it with two distinct new buildings of 17 storeys and 7 storeys.
The taller, Western building will include residential apartments and shops at ground level, while the Eastern building will be dedicated to commercial office space and shops on lower ground, ground and first floors. The scheme will incorporate a new flagship retail unit of up to 15,000 sq ft, helping to further accelerate the transformation and upgrading of shopping facilities at the western side of Oxford Street. The new cinema will be located in a purpose built basement which runs underneath both buildings accessible from Edgware Road.
The 408,000 sq ft scheme will create new public spaces between the buildings, featuring public art from renowned and emerging artists. It will also create new public walkways, enhancing the pedestrian journey to Hyde Park.
Kathrin Hersel, Development Director of Almacantar, commented: "Our plans for Marble Arch will create two timeless, beautiful buildings which will serve as a fitting gateway to Oxford Street. This landmark development will be a catalyst for the on-going transformation of the West End of Oxford Street, improving the streetscape for the 15 million people who pass through Europe's busiest shopping thoroughfare each year as well as creating a world class residential and office scheme in a prestigious, Central London location."
In a separate application, Almacantar also proposes the development of new mixed tenure housing and retail scheme at 466-490 Edgware Road. The scheme will comprise 76 homes of which 47 will be affordable with the remainder available for private sale.
Kathrin Hersel, Development Director, said: "Our proposals for Edgware Road will accelerate the wider transformation of this part of Westminster and reinstate a retail street frontage on this part of Edgware Road for the first time since the Victorian era. Importantly, it will deliver much needed, high quality, affordable housing in Westminster - including new townhouses and 4 bedroom apartments, all of which benefit from gardens, terraces or balconies."
By Harry Hanscomb
Marble Arch Tower plan