Buyers from Asia are expected to be first in the queue for an ultra-luxury residential scheme that has just been given planning permission in Central London, and what will be the most expensive apartment development so far in Westminster.
London developer Galliard Homes has received planning permission for its Squire & Partners designed project to transform the former European Council for Foreign Relations building at 29-35 Old Queen Street in Westminster, W1, into a 27,190 sq ft ultra-luxury residential scheme providing 22 one-, two- and three-bedroom lateral apartments, including duplexes and penthouses, complete with resident’s only rooftop gardens, marble entrance foyer, concierge and lift access.
The project has an outstanding Central London location, is within a few hundred yards of the 58 acres of St James’s Park, and is less than a five minute walk from Parliament Square, the Houses of Parliament, Big Ben and Westminster Abbey. Just beyond is Whitehall, 10 and 11 Downing Street and Horse Guards Parade, creating a residential scheme which is exceptionally well located and benefits from a highly sought after prime Westminster address.
Built in the early 1900s 29-35 Old Queen Street originally provided grand mansion flats occupied by Westminster politicians and wealthy merchants. After 1945 the building was converted into premium offices and served as the London headquarters of the European Council for Foreign Relations, a pan-European body of more than 170 members of serving ministers, MPs, EU officials and NATO staff meeting to discuss European foreign policy challenges of the day.
Galliard Homes acquired the freehold of the building and submitted planning for a change of use back to residential and is now set to transform the building
Prices have not been released but are anticipated to range from £2,500 to £3,000 (S$5,250 to S$6,300) per sqft, which will set a new price record for residential property in the Westminster and Whitehall areas, and bring new homes prices in line with neighbouring Marylebone and Mayfair. Galliard Homes’ scheme at Chiltern Street has achieved sales values of over £3,300 (S$6,930), per sqft – a new price record for Marylebone.
Stephen Conway, Chief Executive of Galliard Homes, said: “Our Squire & Partners project is the most luxurious residential development undertaken to date in Westminster, and will help to raise residential values in the district to be in line with neighbouring Mayfair and Marylebone.
“Prime London residential values have overtaken commercial, and this means the West End, Westminster and Whitehall is rapidly transforming from being dominated by offices into addresses associated with London’s most luxurious new residences and 5-star hotels.
“This project is the latest part in this ongoing evolution and we anticipate strong sales interest in the scheme.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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