Barratt secures £100m office to flat conversion
Barratt, the UK based property development company, has acquired the former offices of the Department of Transport in Westminster, for its office to residential scheme, a company representative announced today.
The building - based at 76 Marsham Street - will be redeveloped into residential apartments in a scheme worth £100m, with planning permission already granted by Westminster City Council.
Over 80,000sq of space will be converted into 60 luxury apartments ranging from studios to four bedroom penthouses, with the space set to feature on-site parking and a ground floor commercial unit.
It is the third construction project that Barrett have undertaken in Westminster, bringing the total value of its investment in the borough up to £300m.
Commenting on the development, Barratt’s regional managing director for London, Alastair Baird, said: “This is a great opportunity to consolidate our position in central London and we now have three projects in the Borough of Westminster with a total value of £300m.
“As this is an office conversion we can move very quickly and we will have completed the build and plan to have sold all the apartments at Great Minster East by December 2014.
“The proximity to our Courthouse scheme on Horseferry Road offers a number of advantages during the dual development process.”
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