By: Property Week
The Greater London Authority has given Queensgate Investments and Rockwell the green light for the £1bn regeneration of Kensington Forum.
The scheme, which will include a hotel, serviced apartments and 62 affordable homes, will also bring forward public realm improvements in the surrounding area including a new garden square.
The scheme, designed by SimpsonHaugh, will replace the existing 906-room hotel.
The parties said the 62 affordable homes on the site are the first time a private development will deliver “100% genuinely affordable homes”.
“There is desperate need for social housing across London… If we are to deliver affordable homes and other benefits for London, we must ensure we make the best use of land.,” said deputy mayor of London Jules Pipe.
“As well as improvements to the architectural quality, when compared to the existing building, the development includes a number of other significant benefits such as the addition of much-need affordable housing, a reconfigured public garden square, additional jobs, improved visitor accommodation and public realm improvements.”
Queensgate Investments chief executive Jason Kow said: “Kensington Forum is an extraordinary scheme of exceptional quality, which will benefit both London and Londoners. The benefits of this redevelopment are substantial, and the new world-class hotel will establish a new benchmark for visitor accommodation in the capital that will doubtless become a landmark for the city.”
Rockwell founder Donal Mulryan added: “We pride ourselves on the delivery of genuinely transformative schemes and Kensington Forum is further testament to that.
“Not only will this be one of the highest-quality buildings in the country, but redevelopment of the Kensington Forum will deliver a 300% increase in employment, 100% genuinely affordable social rented homes and a new public garden square. This development will benefit those who live, work and visit London for years to come.”