Kaupthing Bank, Aviva Investors and Exemplar Properties announced on Friday that they have entered into an agreement to develop the former Middlesex Hospital site on Mortimer Street in Fitzrovia, London. The three-acre site will be transformed into an integrated sustainable mixed-use community, centred on a new landscaped public realm that embraces the listed hospital chapel. The high-quality scheme is expected to be complete by late 2014.
Kaupthing Bank, Aviva Investors and Exemplar Properties announced on Friday that they have entered into an agreement to develop the former Middlesex Hospital site on Mortimer Street in Fitzrovia, London. The three-acre site will be transformed into an integrated sustainable mixed-use community, centred on a new landscaped public realm that embraces the listed hospital chapel. The high-quality scheme is expected to be complete by late 2014.
Designed by architectural practice Sheppard Robson, the site's new master plan will include a mix of open market residential apartments, affordable homes, retail, Grade A commercial space, and amenity for local occupiers including a health centre and an education facility. Kaupthing, Aviva Investors and Exemplar Properties intend to submit a new planning application to Westminster City Council in mid-2011. Following the grant of planning permission, work will commence on site immediately.
Clive Bush, Co-Founding Partner of Exemplar, said: 'The former Middlesex Hospital site offers a rare and exciting opportunity to promote and define an important part of Central London. Fitzrovia is a thriving established and harmonious community with an interesting heritage and the new master plan will reflect this. We will be engaging with local stakeholders including the nearby school to ensure we deliver a high quality, sustainable scheme that enhances and adds value to this well connected and desirable part of London.'
CB Richard Ellis acted as advisors for Kaupthing Bank and Savills acted for Aviva Investors and Exemplar Properties.