AlloyMtd to develop £451m London project

PETALING JAYA: AlloyMtd Group, a infrastructure development company headquartered in Kuala Lumpur, will redevelop One Crown Place London EC2, a landmark site in London, England, into a mixed project with gross development value of £451 million (RM2.67 billion).
In a statement yesterday, the group said it has received unanimous approval from the London Borough of Hackney (LBH) Planning Committee on its plans to redevelop the property.
One Crown Place was acquired by AlloyMtd's subsidiary, AlloyMtd (Jersey) Limited, from Sun Street Properties Ltd, a unit of UBS, in June 2013.
The 0.93-acre freehold site has a planning consent granted on Jan 17 2012, for a iconic 24-storey office building with 365,405 sq ft net internal area (NIA).
"We are delighted that LBH members see One Crown Place providing positive benefits to this part of London including new jobs and workspaces, additional housing provision including a big contribution for affordable homes as well as creating a brand new destination for Shoreditch," AlloyMtd Group president and CEO Datuk Dr Azmil Khalid said.
He hopes to start the project by November this year.
AlloyMtd (Jersey) submitted a planning application to the LBH in March 2015 for a mixed use scheme.
The proposed mixed use scheme will feature two separate residential towers located above podium offices providing workspace that meets the requirements of the modern occupier alongside retail, residential and a boutique hotel.
The total NIA of 373,091 sq ft includes office NIA of 141,890 sq ft, residential NIA of 200,041 sq ft or 247 apartments. The boutique hotel will be built on a heritage block, an early 19th century Georgian Terrace.
AlloyMtd said AlloyMtd (Jersey) had assembled a strong design and development team comprising CBRE London (development and project manager), Kohn Pedersen Fox (architects), AKTii (structural engineers) and AECOM (mechanical and engineering engineers and cost consultant).
One Crown Place marks AlloyMtd's re-entry into the London real estate and property market. The group had a one third stake in the Spitalfields development between 1996 and 2000.
AlloyMtd Group is the result of a 2011 merger between MTD Capital Bhd and Alloy Consolidated Sdn Bhd.
The group in 15 countries with investment portfolios in properties and real estate, civil engineering and construction, manufacturing of precast related products, infrastructure concessions ranging from tolled highways, ports to independent power producer, operations and maintenance.