Derwent London, one of London’s most dynamic and innovative property investors and developers, has secured planning permission for its 316,000 sq ft mixed-use canal side scheme, at 55-65 North Wharf Road in Paddington, London W2. The site, at the heart of the Paddington Basin regeneration area, is directly opposite the northern entrance to Paddington Station.
The proposed scheme includes the development of two new buildings, comprising a 16 storey office building of 240,250 sq ft net, and a 100-unit residential block totalling 73,000 sq ft net. Of these, 16 units will be for affordable housing and the residential building will also include two ground floor retail units, with a total area of 2,900 sq ft. The site will provide parking for 54 cars and 346 bicycles.
Designed by Fletcher Priest Architects, the office building features a striking and innovative diagrid design which allows flexible column-free floorplates, whilst the residential building complements this with attractive timber cladding. The scheme incorporates the latest in environmental design and technology to create a distinctive and sustainable new development which will endorse Paddington Basin as a key business destination and waterside residential location. The 1.2 acre (0.49 hectares) site, bordered by North Wharf Road on one side and the Grand Union Canal on the other, is adjacent to The Point office building and the pedestrian bridge over the canal. This allows convenient pedestrian access to both the National Rail and London Underground stations at Paddington. The existing buildings on the site, built in the late 60s and early 70s, comprise 84,000 sq ft net and are currently fully occupied. The proposals will also open up the canal side as part of a number of major public realm improvements, allowing public access in this area for the first time in over forty years.
Simon Silver, Development Director at Derwent London, commented: “This is one of the last major sites within Paddington Basin to be developed and we are very excited about the proposals which will provide a striking architectural addition to the regeneration of the wider area. We are familiar with Paddington following the successful pre-letting of our Telstar development to Rio Tinto, and we are confident about the continued growth of the area as a business destination.”
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