Description of Park Modern

Park Modern at 117-125 Bayswater Road is a new mixed-use development across the road from Kensington Gardens in Bayswater, London W2.

The 190,000 sq ft scheme will provide 57 new homes and 30,000 sq ft of commercial space.

History

2018 August - Developer Fenton Whelan reveals new visuals for the Park Modern development and says that construction is due to start shortly with completion expected in 3 years time.

2017 June - Baks Limited is marketing the development for sale as Park Modern with website at parkmodern.com. Invest: £200m ROI: £500m Timeframe: 3-5 years.

2017 March - Cushman & Wakefield and Knight Frank offer the Freehold interest in development opportunity. Key points from the offer:
- A freehold site of approximately 0.4 acres covering an entire block fronting the Park.
- Planning granted for a scheme of 57 residential units (above two retail and one health and leisure unit) with south facing views over Kensington Gardens towards Kensington Palace.
- Approximately 102,000 sq ft (NSA) of residential, 10,000 sq ft (NIA) of retail (A1/A3) and 13,500 sq ft (NIA) of leisure (D2) equating to approximately 171,000 sq ft (GIA) with 10,000 sq ft of balconies /terracing and 67 parking spaces.
- Potential to increase residential NSA through a non-material amendment to the consented scheme.
- Alternative potential for the site to deliver a trophy hotel, subject to planning.
- A landmark development opportunity and key component of the Queensway regeneration project with the opportunity for the owner to design and deliver a new formal gate into the park.
- Offered for sale by private treaty, via informal tender.

2017 March - Planning Permission granted for:
Demolition and redevelopment of 117 to 125 Bayswater Road, together with 2 to 6 Queensway and 7 Fosbury Mews for a new building comprising 3 basements, ground and 9 upper storeys to include 55 residential units and ancillary residential facilities (class C3), together with retail (class A1) unit, a retail (class A1) and/or restaurant (class A3) unit, a dentist (class D1) and a spa use (class D2), highway works and the use of car parking within the basement of Consort House. Westminster City Council Ref no 15/10671/FULL.

References:
1. Cushman & Wakefield cushmanwakefieldresidential.com published 27.03.2017; retrieved 2.04.2018.
2. Real Estate Projects by Baks Limited baks-projects.net

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