Paddington Square construction commences
Sellar, on behalf of Great Western Developments Ltd. today announces that formal construction of Paddington Square has commenced, representing a £825m transformation of the Paddington Station area.
Paddington Square, designed by world-renowned architect Renzo Piano, will incorporate 360,000 sq ft of prime office space, 75,220 sq ft of world-class retail and dining space, a 13,650 sq ft rooftop restaurant and a new 1.35 acre public square. JLL has been instructed as leasing agents on the office space.
The development will also deliver a much-needed £65m investment into London’s transport infrastructure that will provide a new Bakerloo Line ticket hall in Paddington Station.
The start of the project’s construction marks major progress on site to date, including the demolition of the former Royal Mail Sorting Office at 31 London Street and adjacent buildings on Praed Street, as well as piling and basement box works that are now well underway. These works will enable the creation of the new transport infrastructure and four levels of retail, located directly beneath the office building and public square.
James Sellar, CEO of Sellar, said: “Paddington Square sits as the centrepiece of the transformation of Paddington. In starting construction on site we now move into an exciting new chapter for the development.
“Our ambition is to deliver something of true value for London which celebrates the best of design, retail, workspace and dining in one of the most connected parts of the city. Paddington has always been a gateway to London and a centre of innovation, and we look forward to creating a scheme that is a reflection of both a forward-thinking area, and a future-facing city.”
At the heart of Paddington Square, a Piano-designed office building will rise 14 floors above street level, with unrivalled views across Hyde Park and central London. Like Sellar’s previous landmark building designed by Renzo Piano – The Shard – the Paddington Square building will be designed to the highest standards, appealing to international and blue-chip occupiers. The building will also incorporate five floors of retail, mixing global, independent, high street and heritage brands, as well as high quality restaurants and eateries.
Paddington Square is located on the doorstep of what will be one of London’s most integrated transport hubs with the imminent arrival of the Elizabeth line, enabling fast and direct links between Heathrow, the West End, the City and Canary Wharf.
The scheme will also bring about the pedestrianisation of London Street, enabling a direct pedestrian link between the mainline station and Paddington Square, which, together with the new Bakerloo line entrances, will eradicate the rush hour traffic that has beset the area for years.
It is estimated Paddington’s local economy will benefit by as much as £350m a year following completion of Paddington Square, while the development will bring approximately 4,500 new jobs to the area.
The piling and basement box phase of construction is expected to be completed by summer 2020. Mace will then formally begin construction of the main Paddington Square office building, with completion of the scheme anticipated by 2022.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.