This is a mixed-use redevelopment project just off Clapham High St providing 10,000 sq ft of office space pre-let to Kone PLC, with 40 apartments above and parking provided within the basement. The GDV of the scheme is circa £20M. It is to date the finest jewel in the company’s crown.
The original property on the site provided office space for Kone PLC, having been acquired from them by Oakapple following development of a new Northern Regional Office for Kone. The existing building occupied only a small part of the site and Oakapple identified the opportunity to add value by pursuing a comprehensive redevelopment.
The site is only a few moments’ walk from both underground and mainline train stations, hence a high density scheme with apartments over was the obvious solution. Negotiations with the planning authority were complex and involved detailed discussions over 24 months and four pre-application submissions. However planning was eventually secured and construction completed late 2016.
The project was de-risked via pre-sales to One Housing and residential investors. In line with the spirit of partnership which has prevailed throughout this project, Kone Plc will share the benefit of the value added through this scheme.