Central London property developer Londonewcastle has been appointed as Development manager on the latest £5.05m acquisition by new developer and investor The Third Quarter.
Proposals are being brought forward for 19 Queen Elizabeth Street in Butler’s Wharf, SE1 to create a mixed use development comprising nine warehouse style apartments above two floors of commercial offices (13,068 sq.ft GIA); in an attractive, turn of the century building situated in the heart of Butler’s Wharf. The completed development has a target GDV of circa £18m.
David Barnett, CEO of Londonewcastle commented: “Queen Elizabeth Street is a beautiful and historic 19th century building in an exciting location, which is now on the move again with local new build values achieving up to £1,400 psf. We look forward to realising the full potential of the development by delivering quality new apartments and workspace here with The Third Quarter.”
A planning application will be submitted to Southwark Council later in the year with start on site to follow shortly after.