Westminster Council has granted planning permission for the South Molton Triangle, a £500 million investment connecting Mayfair to Oxford Street.

The 2-acre scheme by Grosvenor Britain & Ireland will see a number of narrow side streets and neglected buildings opposite the new Bond Street West Station transformed to provide 204,000 sq ft of sustainable Grade A office space alongside 67,500 sq ft of shops, restaurants and cafes, a hotel and homes.

33 homes will be delivered – 22 open market homes and 11 affordable homes (35% by area and habitable room).

The redevelopment will help the West End recover from the impact of COVID-19, delivering a new landmark next to Oxford Street, helping to attract an estimated £6 million of spend per year. Over 960 permanent jobs will be created on completion and 465 jobs and 80 apprenticeships during construction.

Anna Bond, Executive Director of Development at Grosvenor Britain & Ireland commented: “If you look closely at this neighbourhood today, it’s an area crying out for world-class public realm and sustainable office space, designed in a way that’s enticing to employers and workers in a post-pandemic world. The South Molton Triangle will re-make this part of Mayfair and help central London get back on its feet.

Thomasin Renshaw, Director of Development, Grosvenor Britain & Ireland added: “Our investment in the South Molton Triangle is a major vote of confidence in the West End at a defining moment for the capital’s economy. It will deliver much of what is needed so badly - new jobs and a boost to the economy - through the sensitive and sustainable transformation of a historic area.”

Grosvenor’s projects are all targeting net-zero carbon, and zero waste by 2030 and delivering significant biodiversity gain.

The sensitive designs celebrate the character of the Mayfair Conservation Area by retaining and adapting historic buildings for contemporary use, balancing retrofit with highly sustainable new build around world-class public spaces.

The Triangle’s new buildings will produce 37% less carbon than ones built to current UK standards. Servicing will only be by electric vehicles, reducing on-street pollution and traffic around the pedestrian-friendly scheme. 360 bike spaces for residents, office and retail workers, plus 50 new on-street spaces for visitors, will also encourage the use of sustainable transport.

The scheme is a Design for Performance and NABERS UK pioneer project, seeking to close the performance gap for new office developments to ensure they deliver on their design intent.