White City plan gets green light
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A pounds 200m shopping centre development in the heart of London is set to go ahead after it emerged yesterday that Elliott Bernerd's Chelsfield property company has succeeded in its bid to take control of a controversial 37-acre site in White City. writes Tom Stevenson.
The site, larger than Brent Cross in the north of the capital with 5,000 parking spaces, could be worth up to pounds 500m on completion, analysts believe.
Chelsfield has been working for several months on plans to iron out the problems that had dogged the site for years. With part of the site owned by Godfrey Bradman, the former Rosehaugh boss, and planning permission in the hands of Sainsbury's, proposals to develop it appeared to have run into the sand.
Mr Bernerd succeeded, however, in persuading a range of interested parties, including big institutional funds such as General Accident and Scottish Amicable, to sell out or go along with Chelsfield's proposals. The balance of power shifted last September when the property company acquired the Vanderbilt Racquet Club, which occupied part of the site, gaining a place at the negotiating table.
A lease has already been signed by Sainsbury's, which has pre-committed to take 77,500 sq ft of the development for a superstore.
Discussions are also under way with the local planning authority, Hammersmith & Fulham, to agree a detailed planning consent as soon as possible. Once that comes through, construction is expected to begin in the early part of next year with completion before the year 2000.
Chelsfield already owns 90 per cent of the Merry Hill shopping centre in the West Midlands, where rising rents helped it buck the recent trend in the property market with a 6 per cent rise in net assets in the year to December to 190.2p.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments