The GHS Limited Partnership (“GHS”), one of Great Portland Estates plc’s (“GPE”) joint ventures, announces that it has completed the land buy back from Transport for London (“TfL”) at its Hanover Square development.
Following completion of the Elizabeth line’s new ticket hall structure at the Bond Street East station, GHS has acquired the site through the grant of two new 150 year leases and entered into a Development Agreement with TfL to enable completion of the construction of the over station development at 18 Hanover Square, anticipated in Q3 2020.
The overall Hanover Square development is a substantial, 1.3 acre, mixed-use scheme comprising:
- A nine storey building incorporating the eastern entrance to the Elizabeth line’s Bond Street station, to be known as 18 Hanover Square. This includes 127,600 sq ft of offices and 2,300 sq ft of retail with 47% of the office space already pre-let to international investment firm Kohlberg Kravis Roberts & Co. Partners LLP (“KKR”);
- a separate building on New Bond Street containing 31,300 sq ft of new prime retail units and 33,300 sq ft of offices above;
- six residential units totalling 12,200 sq ft at the junction of New Bond Street and Brook Street; and
- 8,300 sq ft of restaurant space and 6,300 sq ft of offices in the Grade II listed 20 Hanover Square.