Repositioning properties, at the appropriate point in the property cycle, is core to our business model. To do this, we need a pipeline of opportunities which when conditions allow, will become the development schemes of tomorrow.
Creating tomorrow’s spaces
Our development pipeline comprises 14 schemes with the potential to deliver 1.6 million sq ft of new space, clustered around major public transport interchanges, including new Crossrail stations, in the heart of London. Whilst largely income producing today, they provide a significant platform for long-term organic growth.
The pipeline of exciting schemes includes New City Court, SE1, located within the London Bridge Quarter and adjacent to one of London’s busiest stations. Our early plans are for an office-led scheme delivering a significant increase in area from 97,800 sq ft today to potentially 352,000 sq ft.
At Mount Royal, W1, at the western end of Oxford Street, we are exploring an opportunity with our stakeholders to create a new major retail-led development on a two acre site on Europe’s busiest shopping street.
These 14 schemes represent the bedrock of tomorrow’s GPE. With 40% of the portfolio sitting within our development pipeline, this depth of opportunity has never been greater.