Investment giant cleared to build £500m super tower
The British government this week announced that, as part of a drive to stimulate construction activity, the mixed-used scheme will not go to public planning inquiry.
Chancellor George Osborne has confirmed a major deregulation of planning laws to boost the construction industry.
Green Property will now immediately seek funding options.
Green Property operates primarily in core commercial sectors of retail, industrial and office sectors in the UK and Ireland.
It manages over £2.5bn in assets, and developed Blanchardstown Shopping Centre in Dublin, and last year it took on asset management of £1bn in Irish-owned assets for Lloyds Banking Group/Bank of Scotland, including Douglas Court Shopping Centre.
Promising up to 600 full-time jobs, Green’s proposed One Nine Elms scheme in London’s Vauxhall will have a 200m/ 58-storey tower as its main structure, and second River Tower of 43 storeys, and include 487 homes, 125,000sq ft of offices, a 210-bed hotel, public park, and 10,000sq ft of shopping.
The design is by architects Kohn Pederson Fox (KPF), and the building will replace the current 22-storey Market Towers building, now vacated.
