Mitsui Fudosan and Stanhope, as development manager, today announce that they will start the second phase of the redevelopment of Television Centre, with a total end value of £500m, signalling the success of the first phase and their continued confidence and commitment to White City and the London property market.
Phase 2 comprises a total of 511 homes in four separate plots designed by Stirling prize-winning architectural practices, following the masterplan established by lead architects AHMM, including a modern crescent shaped block of 180 apartments and a contemporary 25 storey tall building of 167 apartments for completion in 2026.
The development of phase 2 will complete the masterplan and further open up the site to local residents, visitors and workers by the creation of a second entrance on Wood Lane and pedestrian connection through to Hammersmith Park via interlinking urban streets. The development of a cluster of new buildings are designed to be distinctive and have a character of their own, complementing each other and the buildings established across the wider estate.
Jonathan Trout, Property & Commercial Director at Stanhope said: “We are delighted to be working with Mitsui Fudosan as development manager for the delivery of a new residential 25 storey tower with 167 apartments and 180 apartments in a crescent block by 2026. The start of phase 2 demonstrates the commitment of Stanhope and Mitsui Fudosan to the delivery of much needed new housing, including affordable, in Hammersmith & Fulham and our long-term commitment to the area.”
Tomoo Nakamura, Managing Director, Mitsui Fudosan UK said: “This announcement underlines our continued commitment to the development of the Television Centre site and the range of opportunities which it offers for the delivery of a number of significant commercial and residential projects. Having recently become the sole owner of Phase 2, we are delighted to be able to continue to collaborate with Stanhope as development manager for the delivery of almost 350 new apartments. We have already completed over half a million square feet of office space as well as more than 430 homes on the Television Centre site. We remain focused on ensuring that this development continues to be delivered to the highest standards while we continue to explore other investment opportunities in London.”
Construction has already started on 142 new affordable homes for Peabody in two new buildings called Macfarlane Place at Television Centre, with delivery expected in early 2024. Designed by Maccreanor Lavington Architects, the new buildings will replace the now demolished former BBC multi-storey car park on Wood Lane, W12, opposite Westfield. 1 Wood Crescent is under construction and recently ‘topped out’ and is due to complete in early 2023.
AIMCo, on behalf of some of its clients, and Mitsui Fudosan remain owners of Phase 1 which includes Soho House, the Helios residential building, 2 Television Centre (offices let to Publicis, the White Company and Soho Works) and 1 Wood Crescent (under construction and offices part pre-let to PvH Corp., the parent company to brands including Calvin Klein and TOMMY HILFIGER with Stanhope as Asset Manager.