Westminster & Pimlico

Westminster and Pimlico
 
In the pipeline

17 November 2016, by Gaby Day

Westminster is currently experiencing large-scale development in light of major regeneration projects in Victoria

 

Driven by the regeneration of Victoria, Westminster is experiencing an influx of new development. Over the last few years, Victoria has been transformed into a vibrant commercial and retail centre, supported by extensive placemaking, the makeover of Victoria Station, prime residential development, and new high profile commercial tenants such as the UK’s new National Cyber Security Centre.

The final piece of large scale development in Victoria is the flagship scheme Nova by Land Securities. Completing in early 2017, Nova will deliver 170 private homes and create a new restaurant quarter with a selection of popular eateries, including Sticks N Sushi, Shake Shack, and Franco Manca. As Victoria’s regeneration is coming to an end, large-scale development is now moving further into the heart of Westminster.

There are currently 17 developments under construction across both Westminster and Pimlico, providing over 900 private homes, although much development is concentrated in Westminster. Further down the development pipeline, there are another 39 permitted schemes, with a significant proportion of smaller schemes scattered along Buckingham Gate.

Permitted schemes (with potential for 1,680 private homes) include the £1bn super-prime mixed-use scheme Ten Broadway (New Scotland Yard) to be developed by Northacre and Abu Dhabi Financial Group (258 private homes), and Portland House by Land Securities (206 private homes) which is currently on hold. In addition, Motcomb Estates obtained planning permission to refurbish and convert the Grade II listed Millbank Tower into 207 high-end flats and a 195 bedroom hotel, with construction due to commence in 2019.

Abell & Cleland by Berkeley is the largest scheme in Westminster currently under construction and is set to deliver 275 homes (208 will be private). Riverwalk is the latest addition to the Westminster market, recently completed by Ronson Capital Partners (113 private homes). Facing the headquarters of MI6, Riverwalk is currently the only marketed waterfront scheme north of the river between Albert Bridge and London Bridge. Unlike Westminster, Pimlico has seen little historical development and the current supply pipeline shows that new homes remain scarce.

 

 
Nova by Land Securities is due to complete in early 2017

▲ Nova by Land Securities is due to complete in early 2017

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