The residential and retail scheme will now begin construction, with the scheme set to take two and a half years to build. The project is scheduled for completion in the summer of 2022, by which time Crossrail (or the Elizabeth Line) should finally be running.
It was recently revealed that the project will be delayed again, with the line now not opening until 2021 as costs increase. It was originally due to open in December 2018 but has been beset by complications and budget issues. The project, Europe’s largest infrastructure scheme, could now end up being more than £2 billion over its original budget.
Galliard has exchanged contracts with TfL for a sum of just over £43 million for TCRW, an over-station development which will sit above the new Tottenham Court Road Elizabeth Line western entrance. The completed development is expected to have a GDV of more than £140 million.
TCRW, an acronym for Tottenham Court Road West, is located on a 0.54-acre development site made up of two new buildings bordered by Oxford Street to the north, Great Chapel Street to the west, Dean Street to the east and Diadem Court to the south.
Its masterplan was designed by ‘multi-award-winning’ architectural practice Hawkins\Brown, with specification and interior design by Argent Design. The apartment buildings will be ‘architecturally contrasting’, including private reception foyers with passenger lifts, accessed from Fareham Street.
Overlooking Oxford Street, the first apartment building is set to be a striking six-storey Art Deco landmark, inspired by Lutyen’s 1938 Pantheon building further along Oxford Street, with a glass and polished black reconstituted stone façade and gold decorative panelling. The ornamental gold panels are based on the etched windows of the Victorian-era Bath House Tavern that once stood on Fareham Street.
This building will offer 69 studio, one, two and three-bedroom apartments, complete with a flagship 7,989 sq ft Oxford Street retail unit and separate ground floor entrance (Dean Street), as well as the ticket hall for the new Crossrail interchange.
The second apartment, five-storeys high and overlooking Dean Street, will have a traditional-style ground level glazed brick façade with recessed balconies, light textured brickwork and decorative cladding above, inspired by the historic Georgian townhouses synonymous with nearby Soho.
The Georgian-inspired building will offer 23 one, two and three-bedroom apartments and 1,950 sq ft of new retail accommodation and kiosks fronting onto Dean Street and Great Chapel Street.
The ground floor retail units and Crossrail interchange will have ceiling heights of up to 28.5 ft (8.7m), providing the apartments on the upper floors of both buildings ‘with the benefit of being in their own separate oasis, highly elevated above street level’.
In most of the apartments in the Art Deco-style building and all in the Georgian-inspired building, there will be private exterior space ranging from winter garden-style cover balconies to extensive sun terraces for the larger apartments and penthouses.
The design concept and specification for TCRW has been devised by interior designer Nicola Fontanella of Argent Design, who has been responsible for some of the world’s most exclusive homes in London, Miami, Monaco and New York for clients including A-listers Madonna, Guy Ritchie and Naomi Campbell.
Apartments will have ‘optimal’ WiFi connectivity, ultra-fast fibre broadband, cabling for Sky Q satellite and terrestrial TV, and programmable mood lighting to all principal living areas and bedrooms.
What does the area offer?
Centred around Oxford Street, Regent’s Street and Bond Street, London’s West End – one of the most famous and well-established shopping and entertainment districts in the world - is home to more than 600 retailers, over 70 leading restaurants, over 40 theatre/cinema venues and six world-class universities.
Set to become operational at some point in 2021, the new Crossrail Interchange at Tottenham Court Road will be one of the capital’s busiest stations. It will offer access to the Elizabeth Line, as well as the Northern and Central underground lines.
The Elizabeth Line itself is set to have the capacity for up to 24 high speed trains per hour, serving up to 170,000 passengers daily, with Tottenham Court Road providing high speed journeys to Heathrow Airport (28 minutes), Canary Wharf (12 minutes), Bond Street (2 minutes), Liverpool Street (5 minutes) and Stratford (14 minutes).
“Built in 1927, Chiltern Court at Baker Street was London’s first integrated residential, retail and underground scheme,” Stephen Conway, executive chairman of Galliard Homes, commented.
“Almost 100 years later Galliard’s new integrated scheme at TCRW will offer discerning buyers a cutting edge 21st century version of the same concept with all the benefits that regeneration and Crossrail will bring. TCRW represents an exceptional and rare investment and lifestyle opportunity.”
Don O Sullivan, chief executive of Galliard Homes, added: “TCRW will provide world-class apartments in an unrivalled location off Oxford Street in the heart of London’s West End. Galliard’s new apartment buildings are integrated with the Crossrail Interchange offering residents easy access to London Heathrow, Canary Wharf and locations such as Bond Street and Liverpool Street. The average apartment size is 811 sq ft, providing homes ideal for either end use, pied-à-terre’s or rental investments.”
Galliard Homes are launching the first phase of 81 apartments at TCRW for sale, with a future selection of upper penthouse apartments launched as part of a second phase. Prices start from £899,000.