The developer of London’s Shard has unveiled plans for its next major mixed-use development in the capital, in partnership with Singapore-owned Great Western Developments.
Sellar Property Group said the development, located in Paddington, will bring £1bn of investment to the area.
Plans for the former Royal Mail sorting office, now called 31 London Street, will include 200 homes, more than 150,000 sq ft of office space and 50,000 sq ft of retail and restaurant space.
The development has been designed by Shard architect Renzo Piano, who said the scheme would look to ease congestion around the entrance to the Bakerloo line.
Sellar Property Group chairman Irvine Sellar said the new project would be a major catalyst “in much the same way that the Shard [was] for London Bridge”.
“This site shares much of the same DNA with its proximity to a major transport hub with tube, railway lines and bus routes, a neighbouring leading teaching hospital and the potential to provide much-needed quality public realm,” Mr Sellar added.
Great Western Developments is a subsidiary of Singaporean company Hotel Properties Limited.
Its group executive director Chris Lim said: “By partnering with Sellar Property Group on this truly transformational project, we are committed to playing our part in revitalising the area.
“As a key transport hub into London, it is imperative that this innovative project reflects the dynamism of the capital and brings about a much-needed rejuvenation to Paddington to enhance the experience for residents and visitors.”