Development Securities has been granted planning approval for its seven-acre development site at 399 Edgware Road, the former Oriental City site.
The plans North West for a £150 million, mixed-use regeneration scheme will house an 80,000 sq. ft. foodstore pre-let to Morrisons. The consented scheme, designed by Sheppard Robson, will also include 183 new homes, over 50,000 sq. ft. of retail and restaurant space, new public realm and a primary school. The scheme is now being marketed for funding. Work is expected to start on site in September 2013.
Michael Marx, CEO, Development Securities said: “We are very pleased to have secured planning at 399 Edgware Road, a scheme that demonstrates our strategy of creating value through the regeneration of redundant and undervalued real estate.”
Quod Planning are acting for DevSec.