A new commercial property comprising of 300,000 square metres of office space may be be built in Hammersmith Grove, West London, next year.
Property development and investment corporation Development Securities are spearheading the project.Labelled ‘The Strawberry’ the scheme was initially put on hold in the second half of 2008 when the world economic crisis hit.
At the moment the site marked for development is used as a car park. It has excellent links to Hammersmith tube station making it an ideal office space suited to commuting staff workers.
Development Securities are currently searching a for a contractor to begin construction of the Hammersmith office space, cinema and restaurant facilities. The early plans for the glass structures building include the construction of two blocks estimated to cost £35 million.
Director of the project Simon Hesketh said: ”Development opportunities are out there, but they are very location specific. Some areas have a severe lack of supply, while others have massive oversupplies. But we will do more work in 2010 than in 2009 – and we will do more in 2011″.
The plans were shelved in 2008 after the property developer suffered a £14.4 million loss and could not secure bank financing for the project.
Designed by architect Hamiltons, the original 320,000 square foot plan has been scaled back to 280,000 square feet.
The reignition of current schemes also includes the final two phases of the Paddington Central development.