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08 NOVEMBER 2023
The 370,000 sq. ft. mixed-use scheme will deliver new office space, private and onsite affordable housing, a 5* hotel opportunity and new cafes, shops, restaurants, community and leisure space, all stitched together with improved public realm.
Located next to Oxford Street and the new Bond Street Elizabeth Line station, the South Molton Triangle will be the first port of call for millions of people visiting the West End every year.
With the Elizabeth Line carrying around 150 million people in its first year of operation and the Bond Street Elizabeth Line station having capacity for 140,000 passengers a day, this new location will provide a new gateway into Mayfair, attracting c£6.5 million of spend per year. Nearly 1,000 permanent jobs will be created upon completion, with the construction phase enabling an additional 450+ jobs as well as apprenticeships.
At the heart of the project is a 267,000 sq. ft. joint venture between Grosvenor and Mitsui Fudosan UK, that will deliver, two best-in-class office buildings, providing corporate HQ opportunities in one of the West End’s most sought-after locations.
The 96,000 sq. ft. office on Brook Street and its 86,000 sq. ft. counterpart on Davies Street will be delivered alongside street level retail and F&B outlets that will create a thriving social hub in the centre of the scheme.
Other elements of the development will be delivered by Grosvenor, comprising the restoration of Georgian era buildings on South Molton Street to provide new retail, market and affordable homes, with a 31-bedroom, 5* boutique hotel opportunity on Brook Street. As part of the wider scheme, Grosvenor will also refurbish a pub on North Audley Street and provide new space for social and community use in Mayfair.
Across all its phases, the project will enhance the unique character of Mayfair, preserving historic building façades and retaining the area’s landmarks, including refurbishing The Running Horse pub on Davies Street, whilst investing £8 million in a greener, cleaner more pedestrian-friendly public realm.
In line with Grosvenor’s sustainability commitments, the project will target net zero carbon in operation and construction, minimising embodied carbon and waste wherever possible, with offsetting strategies in place to ensure the development is carbon neutral at practical completion.
Works on South Molton Street, the two office buildings and associated retail and F&B have begun, with specialist engineering contractor McGee onsite. Works on the hotel are due to start in 2025, with all elements of the scheme scheduled to complete in 2027.
Anna Bond, Executive Director - Development, Grosvenor said: “Today is the start of an incredibly exciting period for the West End and for London. The South Molton Triangle will redefine people’s perceptions of Mayfair, creating exceptional office space set within a new destination in the heart of the capital. It signals our intent to invest over the long-term in fantastic places that create lasting economic and social value.
“Working alongside our partners Mitsui Fudosan UK, the South Molton Triangle will be a leading example of how regeneration and placemaking can create high quality sustainable places to live work and enjoy, whilst protecting and enhancing the character of a historic area.”
Tatsu Imamura, Executive Director, Mitsui Fudosan UK added: “We are very pleased to be collaborating with Grosvenor on the South Molton Triangle. The next stage of the project will see the delivery of two exceptional office developments – together with associated retail and leisure facilities – in the heart of one of London’s most high-profile areas. We are committed to supporting this innovative scheme with its strong sustainability focus and are confident that it will attract some truly stand-out tenants in the future.”
Senior Public Affairs & Communications Manager
A leading asset manager, Blue Owl Capital UK, the UK affiliate of Blue Owl Capital Inc. has taken the final floor at Grosvenor’s 65 Davies Street development in Mayfair prior to the project’s completion in November.
Fivefields, developed by Grosvenor in collaboration with the Westminster Foundation and operated and managed by flexible workspace and amenity specialist x+why, has welcomed The London Wildlife Trust and Heritage of London Trust as part of the first group of charities to take up membership.