Berkeley Group, the publicly-owned FTSE 250 Company, announced that it has exchanged contracts to purchase West End Green, a 2.66 acre site on Edgware Road, London. The site, an under occupied temporary car park, will be replaced by a mixed use development which apart from residential units will include space for offices, community facilities and retail. It is being reported that the end value of the development would be in excess of £500 million.
Tony Pidgley, Chairman of the Berkeley Group said: “Edgware Road has great history; fantastic transport links and sits between two of London’s best parks. We are very excited about delivering a world class development which will have its own distinct character and integrate with the existing community’.
A new planning application is expected to be submitted by the end of the year with construction commencing in Summer 2016.
