A council clamping down on ‘Monopoly board style investments’ has thrown out plans to convert a terrace of student houses into luxury mansions.
York Terrace East, based in the exclusive residential area surrounding London’s Regent’s Park, was designed by John Nash, the celebrated architect behind Buckingham Palace.
Westbourne Capital Partners applied for permission to transform a row of houses into 13 townhouses and mansions which were up to 15 times the size of the average property. In total, the development would be worth more than £250million.
But Westminster Council rejected the proposals and has told the developers they need to ‘wake up’.
York Terrace East, based in the exclusive residential area surrounding London’s Regent’s Park, was designed by famed architect John Nash
Hot property: York Terrace East is located just south of Regent’s Park
It warned them that ‘golden postcodes must not be used as Monopoly board-style investments for oligarchs and the most wealthy’.
The exclusive area has been popular with the rich and famous for centuries with celebrated Austrian composer Joseph Hayn buying a home in a nearby terrace in the 18th Century.
In recent years the area can count the likes of Gwen Stefani, artist Damian Hirst and Kate Moss among its populace.
But the council’s planning committee felt they did not want the area to continue to serve the super rich.
Councillors deferred the decision – meaning the developers must revise their plans – on the grounds the development did not meet its policy to create more housing across the city.
Cllr Richard Beddoe, Westminster City Council chairman of planning, said: ‘Developers need to wake-up before bringing forward schemes which don’t make the most of the space available.
The exclusive area has been popular with the rich and famous for centuries with celebrated Austrian composer Joseph Hayn buying a home in a nearby terrace in the 18th Century
Exclusive: The rich and famous have chosen to live in Regent’s Park for centuries and the area can count model Kate Moss, Austrian composer Joseph Hayn and artist Damian Hirst (his home above) among its residents
‘Our city’s golden post codes must not be used for Monopoly board-style investments to cater only for oligarchs and the most wealthy.
‘The council is committed to creating more homes in the city and we have been clear that if you build in Westminster, you must build affordable.
‘These luxury town houses do not offer any benefit to our local community.’
York Terrace East, which currently boasts more than 100,000sq ft of floor space, was built between 1821 and 1826, largely by James Burton, and remained in use as houses until the World War Two.
It was a key part of John Nash’s masterplan for Regent’s Park but during WW2 it was badly damaged.
There were plans to demolish it after the war but, following public outcry, the decision was made to preserve the terrace.
The buildings were Grade I listed in 1970 but internally the terrace has lost its grandeur following years of use as student accommodation, a private school for 3-8 year olds and a rotary club.
Westbourne Capital Partners submitted its plan to convert the terrace back into residential properties in August, 2017.
They wanted to add a further 34,000 sq/ft to the terrace by excavating a new basement into the development.
The largest home on the terrace would boast 17,000sq/ft – making it 18 times the size of the average home – and be worth more than £40 million.
Historic England, when consulted on the plans in May, 2017, said it ‘welcomed the approach to restored these highly significant Grade I listed buildings back to single family dwellings as they were originally designed’.
However, Westminster Council took a different view.
They said not only did the development not provide enough individual housing units, the houses were considered too large and the developers must come back with a plan that would include more homes as well as affordable housing on site
WHO WAS JOHN NASH AND HOW DID HE COME TO DESIGN BUCKINGHAM PALACE AND REGENT’S PARK?
Architect: John Nash (pictured)
John Nash, remembered for his work on Buckingham Palace, Regent’s Park and Regent Street in London, is one of the most famous architects of the 18th and early 19th centuries.
He was born in January 1752 and after an early education received training from the architect Sir Robert Taylor.
After early education, Nash was trained by the architect Sir Robert Taylor and worked as a surveyor and builder in the city of London. In 1777 Nash established his own business and later inherited £1,000 from an uncle which he decided to risk on the building of houses in Great Russell Street and Bloomsbury Square. The buildings failed to rent out and Nash was declared bankrupt in 1783.
Returning to London in 1797, Nash then designed a number of Gothic castles around the country, in places such as Luscombe Castle in Devon and Caerahays Castle in Cornwall.
Nash soon came under the patronage of the Prince Regent, later King George IV. In 1806 he was appointed Surveyor General of Woods, Forests and Parks and from 1810 onwards worked solely for the prince. By 1813 he had been appointed official architect to the Office of Works, which meant advising parliamentary commissions on things such as new church buildings. This was when he designed Regent’s Park, Buckingham Palace and two theatres in Haymarket.
When George IV died in 1830, Nash lost his royal protector amid a backlash about the extravagance of the King’s reign. Buckingham Palace had cost thousands, millions in today’s terms, and Nash ultimately retired. He died a few years later in May 1835.