Almacantar gets Green Light for 180m Marble Arch Scheme
Property development and investment company Almacantar has been given the green light for its £400million scheme to redevelop the Marble Arch Tower in London.
It has received the thumbs up from planners at Westminster to demolish the existing town and build two new buildings comprising 17 storeys and seven storeys in a total 400,000 sq ft replacement, mixed use scheme.
The finished development will consist of prime residential, offices, shops, restaurants and an Odeon cinema space transforming the landscape on this end of Oxford Street, Europe’s biggest shopping thoroughfare.
Work will begin once the old tower has come down and the new lower rise plan will also include 52 luxury flats.
Hotly tipped to carry out the $180million building job is contractor Brookfield Complex and work is expected to start in 2015.
Almcantar also received planning permission for a mixed housing and shopping scheme located at 466-490 Edgware Road, London.