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Dev Sec Plan Hammersmith Grove Restart

With the economy now starting to improve, asset values of commercial property increasing, and a likely shortfall of new grade-A office space on the cards, Development Securities are looking at restarting their proposal at Hammersmith Grove in west London, but this time without the distinctive snail.

The scheme that was designed by Hamiltons, now called BFLS, originally surfaced in 2007 and promises the regeneration of an old car park bounded by Beedon Road and Hammersmith Grove.

As well as having 30,193 square metres of office space, it was to contain 1,393 square metres of retail space and a 1,858 square metre multiplex cinema to help take advantage of the fact it will sit next to one of London's major retail areas as well as have a prime position opposite Hammersmith Tube Station.

Following objections from locals to the previous design however, the cinema element of the scheme has been dumped although it will still retain around 30,000 square metres of space. The shape of the building has been cut back reducing the footprint, and the curves of the project, and to increase public permeability through the site, the developer has decided it should be split into two.

The failure of the scheme to proceed in 2008 was caused by development securities inability to accomplish financing of the scheme in the face of a hostile economic climate, but since then the property company has managed to raise 94 million in new equity through an offer and has a reported 42 million worth of deals on the cards which has seen its position improve dramatically.

With this in mind, it appears that Development Securities are moving into a healthy enough position to restart the project. This isn't the only development on the cards - they are also looking at bringing the next phase of the popular PaddingtonCentral back to life.

Article Related buildings:

Hammersmith Grove

Hammersmith Grove
Hammersmith Grove, London
Hammersmith Grove, London