Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Almacantar Plans 52 Apartments Overlooking London’s Hyde Park

Nov. 20 (Bloomberg) -- Almacantar SA, a developer operating in London’s West End, said it will build apartments, offices and shops on the site of the Marble Arch Tower overlooking Hyde Park.

The development will include 52 apartments, 123,000 square feet (11,500 square meters) of offices, 36,000 square feet of shops and an Odeon cinema, Almacantar said today in an e-mailed statement. The developer, based in Luxembourg, will demolish the existing 24-story tower and replace it with two buildings of 17 and 7 stories.

Luxury homes in central London have been the best-performing part of the U.K. property market since at least 2009. Prime residences in the British capital have risen more than 60 percent from their low that year, according to broker Knight Frank LLP.

Almacantar, run by former Land Securities Plc London division head Mike Hussey, will apply for planning consent. It plans to begin construction in 2015 for completion in 2018, according to the statement.

To contact the reporter on this story: Patrick Gower in London at pgower@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.