RE Capital secures planning consent for 78,000 sq ft flagship in Victoria, London

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RE Capital, the pan-European investment, development and asset management company, has secured a resolution to grant planning consent from Westminster City Council for its 78,000 sq ft flagship mixed-use destination development, Greycoat Stores in Victoria, London.

Located at 10 Greycoat Place, the approved plans will see the former Victorian warehouse building repositioned to deliver 69,000 sq ft of office space spread across eight floors with private terraces. In addition, it will have ample amenities including 5,000 sq ft of retail and leisure facilities on the ground and lower ground floors, and a 4,000 sq ft restaurant. The building will be built to the highest sustainability standards to achieve BREEAM Excellent, as well as Wiredscore Platinum and Wellness Certifications.

Designed by renowned architect Trevor Morris and the team at SPPARC, the development will see the original Victorian building celebrated, restored and re-modelled, adding a new façade and a two-storey extension at roof level. The proposed roof extension recently won the Tekla BIM structural design award. 

Construction is expected to start in September 2021 with completion anticipated in the first half of 2023.

RE Capital acquired the building in July 2019 from Derwent London.

“We are extremely proud to have secured this resolution to grant planning consent from Westminster City Council, which represents a fantastic achievement for the whole project team. The scheme will offer one of the most compelling end-user experiences available in the market, bringing to life the rich history of the original building, whilst providing highly sustainable leisure and work spaces with some of the most outstanding views in London,” says Simon Banks, Head of UK at RE Capital.

Newman Leech, CEO of RE Capital, adds: “This is an excellent milestone for this exciting project which supports one of our corporate objectives to deliver best in class sustainable office buildings in core locations. We look forward to starting construction later this summer.”

RE Capital have appointed Savills, BNP Paribas Real Estate and RX London as leasing agents on the scheme.