Partnership develops west London site

Commercial property specialist Land Securities has formed a joint venture with the Canada Pension Plan to develop the £1bn Victoria Circle project in west London, that will include residential buildings, offices, retail outlets and public amenities.

Land Securities has sold the site's existing properties to the newly formed Victoria Circle Limited Partnership for £163 million, and will be responsible for leasing the commercial space in the new buildings, as well as selling the private apartments.

The area covers 910,000 square metres opposite Victoria Station, bounded by Bressenden Place, Victoria Street and Buckingham Palace Road.

The existing buildings are let until September this year, when demolition can begin.

The project is set to be completed in two phases, no earlier than 2016 and 2018.

IBB has one of the largest real estate groups in West Londonand the South East, with expertise in commercial development, residential development, real estate finance, real estate investment and management, construction and real estate dispute resolution. Contact a member of the team by visiting the relevant service page, or you can call us on 08456 381 381 or email enquiries@ibblaw.co.uk.