Good news yesterday as the Cooperative Group has announced a new partner and an £800m kick start to its twenty acre scheme for redeveloping the area around Victoria Station.
The plans were put on hold last summer after the troubled group pulled out of a joint venture with Delancey and Landid but today the group named Hermes Real Estate as their new partners in turning the area into four million square feet of office space, retail, leisure and residential units.
David Pringle, Director of NOMA, said that:
this represents a great opportunity to bring together two like-minded businesses that have a commitment to responsible, sustainable property development – an approach which sits at the heart of the NOMA scheme.
Completion of the deal is expected in mid-May and Pringle added that the group and Hermes Real Estate have a shared belief in what NOMA can deliver and over the next 10 years we plan to create a new neighbourhood, designed to meet the needs and aspirations of modern businesses with a real community at its heart.
“It is our intention to build new offices, homes, shops, hotels, restaurants and cafés, and to refurbish several iconic listed buildings as well as creating contemporary outdoor squares and spaces.”
