Barratt London shelves 27-storey Aldgate tower project

Aaron Morby 4 years ago
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Barratt London has shelved plans to build phase two of its major Aldgate Place scheme against a backdrop of falling central London flat prices.

Previously planned phase 2 of Aldgate Place
Previously planned phase 2 of Aldgate Place

The firm is also closing its central London Aldgate division office and planning to move around 70 staff to new offices on the Olympic Park where they will join relocating Stratford office staff to create a new bigger Barratt East London division.

Under the London business shake-up Barratt’s Brentford division will also be rebranded as Barratt West London.

Sources told the Enquirer that Barratt and joint venture development partner British Land had decided not to proceed with the final phase of the Aldgate scheme, due to launch this year.

Completed phase one of Aldgate Place; abandoned phase 2 plan with 27 storey tower

The second phase of the development incorporated two residential buildings, one of seven storey and the other rising to 27 storeys for retail, private residential and commercial space.

Property website Rightmove reveals more than 400 flats currently for sale within walking distance of Aldgate East tube station.

Gary Ennis, Regional Managing Director, Barratt London: “As part of Barratt London’s growth strategy and focus on delivery of high quality developments across the capital, we are combining our Aldgate and Stratford offices to create one new larger team, Barratt East London.

“This will bring together the skills and expertise across our London teams, and enable us to deliver focused and efficient growth. We are committed to growing our business, building successful new communities and helping Londoners get a foot on the property ladder.”

In addition to the London changes, Barratt is also opening a new division in the East region.

The new division, BDW Cambridgeshire, will help Barratt to increase volumes to meet the growing demand for new homes in the region.

BDW Cambridgeshire already has terms agreed on land for more than 1,000 units and will be creating around 50 new jobs over the next three years, with hundreds more supported in the supply chain and through local sub-contractors.

The division, which will be based in Peterborough and open this year, is focused on strong markets in areas highlighted recently by the National Infrastructure Commission’s Report, Partnering for Prosperity.

The report identified opportunities to create “well-designed, well-connected new communities” for the Cambridge – Milton Keynes – Oxford arc.

 

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