The GHS Limited Partnership, one of Great Portland Estates plc’s joint ventures, announces that it has completed the land buy back from Transport for London at its Hanover Square development.
Following completion of the Elizabeth line’s new ticket hall structure at the Bond Street East station, GHS has acquired the site through the grant of two new 150 year leases and entered into a Development Agreement with TfL to enable completion of the construction of the over station development at 18 Hanover Square, anticipated in Q3 2020.
Andrew White, Development Director at GPE, commented: "This is a key milestone for us. We have worked closely with the TfL and Crossrail teams to enable elements of the site to be handed back to us in phases which allowed us to commence our enabling works over the past 16 months and the main construction works earlier this year. The buyback of the remaining land allows us to commence construction of the final element of the over station development and makes our previously announced pre-letting to KKR unconditional. We look forward to continue working with KKR, Westminster and other key stakeholders as we deliver this world-class scheme, on a premier garden square, in the heart of Mayfair."