Real estate investment trust Shaftesbury has announced that Westminster City Council has given the go ahead for a new £32m mixed-use development in Carnaby.
A planning committee this week resolved to grant consent for the application of a major scheme at 72 Broadwick Street, a 1970’s mixed-use building in the heart of Carnaby, which will have new retail, restaurant and leisure uses on the 70,000 sq ft site.
The work will include extension and refurbishment of the remaining office space, as well as reconstruction of the residential accommodation, increasing the number of apartments from 11 to 15.
The entrances to the upper floors will be relocated to allow activation of the ground floor frontage on Broadwick Street, at the eastern entrance to Carnaby. There will also be extensive improvement to the external facades of the building.
Shaftesbury already owns a 15.1 acre portfolio in the heart of London’s West End. Work on the new development is expected to start in September this year, with an aim for completion in late 2021. Existing retail space fronting Carnaby Street, extending to 13,900 sq ft, will be largely unaffected by the scheme.