The £220m Botanical House rental flats scheme will deliver nearly 450 homes – a mix of one, two and three-bedroom apartments at the Altyre Road site.

Botanical House will be the first residential building in Croydon to achieve the highest possible sustainability standards – including BREEAM ‘Outstanding rating, Fitwel3* certification and WiredScore Platinum.

With a retrofit first approach, the basement and ground floor slab of the original hotel building will be retained to save embodied carbon and minimise demolition and subsequent waste on site.

Construction at Botanical House will start in 2024, with the development scheduled to complete and open in 2027.

HTA Design is the architect for the tower and mansion block, which will have similar facades, while the crown of each building will have its own identity. Shelly & Counch is the M&E consultant for the project

The scheme will now go forward as a hybrid planning application next Summer with hopes that construction work will now start in 2026, a year later than originally planned.

The first phase of development will comprise over 1,000 homes, the first cultural and commercial buildings, and the park and vital east-west connections.

Much of the 40-acre site in Earls Court has been prepared for redevelopment

The developer is a joint venture between Delancey, Dutch pension fund manager APG and Transport for London, first formed to take forward the plan in December 2019.

Rob Heasman, CEO of ECDC, said: “Today marks one more step in our journey to create something truly incredible here at Earls Court.

“In 2021, we shared a new vision to bring the wonder back to Earls Court, to ensure our plans for the future create unforgettable experiences, as in the past.

“Our plans have progressed and benefitted from continued open dialogue”

60% of the site will be unbuilt, plans include a network of Exhibition Gardens, including The Table, a new urban park

“There is no other central London site like this; this is our chance to build sustainably and innovatively for the future, ensuring that Earls Court is a place to discover wonder for generations to come.”

Landsec has started the major refurbishment of Thirty High (formerly Portland House) in Victoria and the development of Timber Square in Southwark with a combined completion value of £504m.

And two consented office schemes could start next year at at Liberty of Southwark and Red Lion Court, SE1 worth £585m.

The improved outlook has also seen Landsec set provisional start dates for the first half of next year for its major mixed-used schemes in London and Manchester, with a combined development value approaching £2bn.

Landsec eyes start for Manchester Mayfield’s £400m first phase

Mark Allan, Chief Executive of Landsec, said: “Since early 2022, we have been clear that we expected interest rates to remain higher for longer and that asset values would have to adjust to this new reality, which they have.

“We were decisive in acting on this view by selling £1.4bn of single-let HQ offices, mostly in the City, at prices ahead of today’s values.

“Investment activity remains thin, but we expect this to pick up in 2024, which should start to support values for the best assets.

“We will continue to recycle capital where our ability to add further value is limited, but having been a net seller when prices were higher, we are well-placed to take advantage of opportunities that will no doubt arise as the new higher-for-longer reality is now more widely accepted.”

Allan revealed the business was preparing for work to start at its £1bn Finchley Road scheme in London and £800m Mayfield scheme in Manchester.

£1bn Finchley Road scheme to built on strip site next to existing O2 shopping centre

He said: “We continue to progress the preparation of our two most advanced projects, creating optionality for a potential start on site next year.

“At Mayfield, adjacent to Manchester’s main train station, we secured detailed planning consent for the first 330,000 sq ft of office development across two buildings in September. The expected investment for this is  £180m.

“We continue to work on enhancing our plans and expected returns, so subject to this, we could potentially start this first phase in the first half of 2024.

“At Finchley Road, in zone two London, where we secured a resolution to grant planning consent for our 1,800 homes masterplan in March, we secured vacant possession of an important part of the first phase of this site during the period.

“Subject to further planning and land assembly workstreams, we could potentially start enabling works in the first half of 2024 as well.”

Hybrid planning permission for a residential-led mixed-use scheme was secured in September 2022 for 12 blocks, up to 36 storeys, delivering around 1,500 new residential units.

The Morden Wharf development will include 186,000 sq ft of commercial floor space and 50,000 sq ft of retail, restaurant, community, and convenience spaces.

The development includes a 275-metre riverside frontage with an enhanced Thames Path, and a 3.9-acre riverside park.

Stephen Conway, Executive Chairman at Galliard Homes, said: “Galliard Homes is delighted to announce our partnership with CDL, to provide much-needed homes within Greenwich.

“CDL’s worldwide reputation as an industry leader, marked by their commitment to delivering first class development across numerous asset classes, aligns with our values. We hope this will be the first of many more future projects together.”