The £825m transformation of the Paddington Station area is underway
Sellar, on behalf of Great Western Developments Ltd. (GWD) has announced that formal construction of Paddington Square has commenced, representing a £825m transformation of the Paddington Station area.
Paddington Square, designed by architect Renzo Piano, will incorporate 360,000 sq ft of prime office space, 75,220 sq ft of retail and dining space, a 13,650 sq ft rooftop restaurant and a new 1.35 acre public square. The development will also deliver a £65m investment into London’s transport infrastructure that will provide a new Bakerloo Line ticket hall in Paddington Station.
The start of the project’s construction marks major progress on site to date, including the demolition of the former Royal Mail Sorting Office at 31 London Street and adjacent buildings on Praed Street, as well as piling and basement box works that are now well underway.
James Sellar, CEO of Sellar, said: “Paddington Square sits as the centrepiece of the transformation of Paddington. In starting construction on site we now move into an exciting new chapter for the development.
“Our ambition is to deliver something of true value for London which celebrates the best of design, retail, workspace and dining in one of the most connected parts of the city. Paddington has always been a gateway to London and a centre of innovation, and we look forward to creating a scheme that is a reflection of both a forward-thinking area, and a future-facing city.”
It is estimated Paddington’s local economy will benefit by as much as £350m a year following completion of Paddington Square, while the development will bring approximately 4,500 new jobs to the area.
Agents for the offices at Paddington Square are JLL and Knight Frank while CWM and Knight Frank are the retail letting agents.