Westminster's Cavendish Square Gardens are poised for a £42 million redevelopment, following a recent decision by the Westminster City Council Cabinet.
The Cabinet has approved proceeding with advertising requirements related to the Cavendish Square Gardens and Car Park project, signalling the intended appropriation of the property and disposals of parts of it. This move is a crucial step in the planned regeneration of the area, which aims to enhance the health and wellbeing of the local community through the provision of access to new medical facilities, recreation, and wellness services.
The council intends to dispose of part of its freehold estate, including the car park, to Reef, a UK registered Special Purchase Vehicle (SPV) of developer Reef Group, and grant Reef a short occupational lease (no more than 7 years) of Cavendish Square Gardens. This lease will enable Reef to carry out the redevelopment and improvement works. Reef's current development programme is understood to require closure of the whole of the Gardens for approximately 4.4 years and closure of part of the Gardens for 2.5 years.
Reef proposes to redevelop the car park for a healthcare-led development. The planning permission authorises improvements to the Gardens, and new railings around the perimeter. The Gardens will be better secured overnight, which was noted in the Metropolitan Police's consultation response as a positive step in preventing antisocial behaviour. The lawns, trees, benches, landscaping and sculptures will be retained and unaltered but refurbished/renewed. The scheme includes new and additional landscaping and soft planting around the perimeter of the gardens, effectively extending the gardens, and there will be new fountains installed at the perimeter of the glazed lanterns to the south. The increased area of planting will increase biodiversity of plant species and encourage animal species within the gardens.
The proposed transaction is expected to generate a significant capital receipt of £42m for the Council, while also improving the risk balance of its commercial property portfolio. The council has stated that this capital receipt will improve the risk balance of its commercial property portfolio. The redevelopment is also expected to create significant employment opportunities, aligning with Westminster City Council's City Plan and Health and Wellbeing Strategy.
While the gardens are set to be improved, the Equalities Impact Assessment (EQIA) acknowledges that the temporary closure of the gardens would have a neutral impact on certain groups with relevant protected characteristics, this is mitigated by the availability of other nearby open spaces. These public open spaces include Hanover Square Gardens (0.2 miles south), Manchester Square Garden (0.3 miles west), and Portman Square Garden (0.4 miles west). The EQIA also notes benefits to disabled users, with the proposed development offering step-free access and new medical facilities, recreation space and wellness services.
The Cabinet's decision allows the council to move forward with the necessary legal and procedural steps, including advertising the intended appropriation and disposals, as required by Section 122(2A) of the 1972 Act and Section 233(4) of the Town and Country Planning Act 1990.
Further details regarding the commercial terms and the next steps in the process are outlined in the Cabinet Report.
