The former headquarters of British Sky Broadcasting (BSkyB) in west London are set to be transformed into a £98m residential scheme after the site was acquired by residential developer BYM Capital.
The developer will convert four of the five office buildings at the campus on Grant Way in Osterley, west London, – which housed the offices of the broadcasting business until 2016 – into 271 studio, one- and two-bedroom flats for private sale.
The development will also provide underground parking for each flat, 24-hour security and CCTV, a private porter, a residents’ gym and landscaped grounds. In addition, one of the five buildings will be retained as office space.
Permission for the scheme, which has been branded IconBlu, was granted under permitted development rights. The properties will be marketed both in the UK and internationally from the summer and BYM said it expected that a large proportion would be sold to landlords and for rental.
It added that the flats could also appeal to employees of nearby companies including GlaxoSmithKline, JCDecaux and Firestone Tyres. The site is close to Syon Lane underground station, which has journey times of about 35 minutes to central London.
Unoccupied since 2016
BSkyB’s former office has lain unoccupied since 2016, when the company redeveloped several parts of its wider office and studio campus.
The units at IconBlu have been designed by Loroc Architects, which specialises in office-to-residential conversions.
Construction has already begun and the scheme is scheduled to be completed in early 2019. BYM Capital was established by former Iron Rock Capital colleagues Matan Amitai, Joseph Dunner and Ben Ditkovsky in 2016.
The investor and developer specialises in permitted development rights and has projects under development with a value of about £115m, excluding IconBlu, which cover a total of 400,000 sq ft.
The Osterley scheme will be by far its largest development. Its former projects include an £8.9m, 39-unit scheme in Solihull, a £34m, 90-unit scheme in St Albans and a £32m, 139-unit scheme in Newbury.