Reef Group invests GBP100m in Cavendish Square regeneration project
Cavendish Square is to undergo a renovation and regeneration project turning it into a subterranean mixed-used destination in London’s West End.
Located underneath Cavendish Square Gardens, the site is currently an underground car park. It will be redeveloped to a create a mix of retail, medical, wellness and leisure accommodation. The plans will see the creation 280,000 sq ft of space across four storeys and below ground level. At street level two glazed lanterns will frame a new entrance facing Oxford Street and provide natural light for the floors below. Statement entrances to Harley Street and Regent Street complete the development which will be one of the West End’s largest, with floors of up to 80,000 sq ft and floor to ceiling heights of up to eight metres.
Plans for the scheme have been submitted to Westminster City Council and, subject to planning approval, construction is expected to start on site in late 2020, with completion in 2022.
The development will expand the footprint of the Harley Street Medical Area and deliver much-needed specialist facilities for London’s growing independent healthcare market, which doubled in size between 2007 and 2017. There will asp be range of retail and leisure uses, with a strong wellbeing and sustainability theme throughout.
Stewart Deering, Joint Chief Executive of Reef Group, says: “Reef have worked closely with Westminster City Council in designing a unique and iconic destination for London. We will invest in excess of GBP100m in developing a vibrant, sustainable and sensitively designed subterranean mixed use “place” that will combine retail, leisure, medical, health and wellbeing.
“The historic Georgian square will be restored to its former glory, becoming more accessible to the public than ever before with improved public realm. Cavendish Square will become an oasis in the heart of London and as well as providing an interesting mix of occupiers, we hope the plans will encourage more public events to take place within the square.”