Paddington triangle site – development advisory leading to site sale
C&W is working with Crossrail through the design & development process to gain planning consent for a 200,000 sq ft + landmark office building in Paddington. The development is challenging due to its position directly above a Crossrail site, a major new line connecting East and West London due for delivery in 2017. Crossrail needed to maximise the value of their interest while retaining the function and management of the station, and working within a strict planning framework.
C&W has provided advice on the Paddington triangle site for over six years.
More recently, C&W has provided detailed advice on the design of the proposed scheme to ensure the scheme is designed for modern corporate occupiers.
C&W has provided regular market updates and financial appraisals based on prevailing market conditions in order for Crossrail to accurately assess the value of the asset.
C&W has also provided strategic input into the settlement of pre-emption rights and various third party positions which require settlement prior to development.
C&W has also provided detailed advice on the potential exit options for Crossrail on completion of the station in 2017, including freehold and leasehold disposals, joint venture, and other methods to maximise value including rental guarantees, planning, leasing and sales overage and pre-leasing advice.
C&W is retained to advise Crossrail on the disposal strategy of the asset and Crossrail is currently considering various options.
C&W is retained to advise Crossrail on the disposal strategy of the asset and Crossrail is currently considering various options for exit in 2017.