Derwent London and Native Land are to develop 100 George Street, the high quality apartments will form part of Derwent London’s larger 297,000 sq ft mixed-use 19-35 Baker Street W1 project on The Portman Estate.
Derwent London, the largest central London focused REIT, is partnering with Native Land, a leading London prime residential and mixed-use developer, to develop 100 George Street W1, a 41-unit high quality apartment building in the heart of Marylebone. It will comprise 35 large, lateral apartments and 6 lateral and duplex penthouses.
This scheme forms part of a major 2-acre mixed-use development being undertaken by Derwent London on The Portman Estate. The total project comprises a 206,000 sq ft new office headquarters at 19-35 Baker Street, the 45,000 sq ft 100 George Street apartment building and a 28,000 sq ft avenue of boutique retail and food & beverage outlets connecting Baker Street to Gloucester Place. There will also be 10 affordable housing units and another 12,000 sq ft of offices located on Gloucester Place.
The George Street residences have been carefully styled and will have full hotel-style concierge services as well as wellness facilities, a residents’ lounge, gym, business centre and secure underground car parking. One of the building’s key features is extensive private terracing with south-westerly views on the upper floors towards Hyde Park.
The wider scheme, designed by Hopkins Architects, was granted planning permission by Westminster City Council in 2019. Development is due to commence in autumn 2021, with overall completion expected for spring/summer 2025. The project will invest in the public realm, including improving walkways and road crossings around the development.
Derwent London and Native Land have been collaborating on the project over the past 12 months to refine the residential designs and their relationship will be formalised once the development option with The Portman Estate is exercised.
The Portman Estate is undertaking a strategic programme of redevelopment and repositioning across its ownership, including the reinvigoration of Chiltern Street, the new Nobu Hotel on George Street and Regent House, a 70,000 sq ft mixed-use development also in partnership with Native Land.
Alasdair Nicholls, Chief Executive of Native Land, said:
“100 George Street continues our successful track record of working with major property groups across prime central London. We are delighted to be doing so with Derwent London, a company with a keen focus on design and quality of building and places that we share. We bring to the project our sector-specific expertise, international brand and in-depth understanding of super-prime London – all of which are key to delivering Marylebone’s premier new apartment building.”
Paul Williams, Chief Executive of Derwent London, said:
“We are delighted to be working with Native Land to deliver the residential element of our exciting major Baker Street project which starts later this year and completes in 2025. Combined with our strong relationship with The Portman Estate we expect to deliver another outstanding net zero carbon development with a mix of high quality offices, residential and retail creating a new hub for the area.”
Oliver Fenn-Smith, Chief Executive of The Portman Estate, said:
“We are proud to be working in partnership with Derwent London and Native Land on such a ground-breaking development. Sustainability lies at the heart of what we do and this net zero carbon, mixed-use scheme paves the way for a new era of the workplace and how we create thriving neighbours and retail districts. We are delighted that the development will deliver high-quality residential, office and retail space that will enliven the surrounding area and boost our vision for the future of the Estate.”