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LONDON-Britannic Asset Management has been granted planning consent on appeal for a 125,000 sf redevelopment of the former Kensington Market site at 37/53 Kensington High Street and 5/13 Young Street, immediately to the east of Barkers department store in London’s West End.

The scheme will be the first major speculative Kensington office development for over 10 years, including a high-grade headquarters building of 44,300 sf at 47/53 Kensington High Street. In addition there will be a 14,225 sf office refurbishment at 37/45 Kensington High Street, and a 12,000 sf former office building in Young Street will be converted to residential.

The development also provides 30,000 sf of new retail space in one of London’s prime fashion led locations. Near neighbours include Zara, Miss Sixty, Urban Outfitters, Next and Miss Selfridge. The retail space will be split into two new flagship stores of 10,000 sf each plus three other units of between 1,750 sf and 4,500 sf and some catering units.

Demolition will commence immediately and the accommodation is scheduled for completion in late 2002. Chesterton is project managing the scheme and will be joint letting agent with Ian Scott International.

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