Barratt and British Land get £250m Aldgate approval

The pair are expected to say today, as part of an announcement by Barratt Developments stating that the company is intending to increase its pipeline of London homes, that they have won approval from Tower Hamlets for Aldgate Place, a 450,000 sq ft scheme next to Aldgate East station.  

The scheme will provide 463 private and affordable units, together with 30,000 sq ft of office, a 160 bed hotel, retail and leisure uses around a new pedestrianised street.  

Three towers of 26, 25 and 22 storeys will be developed, as will a series of lower buildings.  

Of the residential units, 313 will be for private sale and 150 for affordable.  

The architects are Allies and Morrison.  

Tishman Speyer and HSH Nordbank agreed last March to sell the 2 acre site on which the scheme sits, where an 850,000 sq ft office scheme was due to be developed.  

Lack of occupier demand prompted Tishman and HSH to consider other uses for the site.  

Alastair Baird, regional managing director at Barratt London said at the time: “[The purchase] consolidates our presence in the exciting Aldgate area alongside our 27-storey Altitude development on Alie Street which has already sold 20 units after its recent launch. This is our third major JV in London following the 235 unit Alie Street and 375 unit Queenstown Road agreements with London and Quadrant.’’


Source: Nick Johnstone, Property Week