A weekly round up of the latest planning and property news from the central London Boroughs

Camden

PW reports that Google has committed to an expansion of its London headquarters in King’s Cross after speculation about the project’s future. The internet search giant has said it will press ahead with the £1bn scheme, allaying fears that the project was to be scrapped in the wake of the Brexit vote.  A 10-storey 650,000 sq ft complex for 3,000 employees will now be built alongside Google’s existing offices on Pancras Square.

PW reports that a property investment company founded in 1879 has been sold for £21.5 along with its portfolio, which still includes the first property it acquired near King’s Cross.

PW reports that two King’s Cross industrial buildings with potential for nearly 150,000 sq ft of office development have been put on the market by a family trust. Offers in excess of £32.5m are being sought for Tileyard Quarter, a 0.77-acre site which is currently home to two vacant warehouses.  Architect BuckleyGrayYeoman has drawn up plans for a 143,878 sq ft development comprising office accommodation, creative space, design studios and a café.

PW reports that two prime London residential opportunities have been put up for sale with the first big administration of the cycle and the exit of private equity. This includes a development on Cleveland Street which is being marketed by Savills and CBRE.

PW reports that Shaftesbury has signed up US womenswear label Reformation to open a pop-up store in Seven Dials over the Christmas period. Reformation will open its first UK pop-up store 61-63 Monmouth Street on 9 November. The 1,300 sq ft store will be open until January 2017.

City of London

PW reports that the AIM-listed Hong Kong investor was bought 20 Moorgate this week for £154m is in the process of moving its legal home away from the British Virgin Islands as a direct result of the ‘Panama Papers’ scandal.

PW reports that Civitas has revealed its proposed float on the London Stock Exchange was oversubscribed with the social housing group raising £350m. The real estate investment trust was initially planning to raise £250m for the float.

EG reports that Kingboard Chemical Holdings became the latest new Chinese entrant to the London market with its acquisition of WeWork’s UK flagship store in the City of London. The Hong Kong-listed company agreed to buy Moor Place from Brookfield for a price which reflects its initial yield of 4.86%.

EG reports that AXA Investment Mangers – Real Assets is to proceeed with the 62-storey, 22 Bishopgate, EC2 on the former Pinnacle site.

EG reports that British Land and GIC’s 32 storey tower at 2-3 Finsbury Avenue Square, EC2, has been given the go ahead.

City of Westminster

PW reports that Pure-play online retailer Shop Direct has announced plans to open a London office next year. The 25,000 sq ft space at 111 Buckingham Palace Road will open in summer 2017 and have capacity for up to 250 workers.

PW reports Great Portland Estates has sold its retail and office development at 73/89 Oxford Street and 1 Dean Street, London to Norges Bank Real Estate Management for £276.5m. The deal reflects a net initial yield of 3.2%.

EG reports that Ashby Capital emerged as the frontrunner to buy Kaupthing’s 50% stake in Fitzroy Place for around £218m – a 4% yield. It will be the second major West End mixed-use scheme bought into by the company.

EG reports that Manchester-based independent property consultancy Christopher Dee has opened an office in Regent Street.

Southwark

ES reports that Southwark council and Transport for London have unveiled an imaginative plan that aims to transform the route of the proposed Bakerloo line extension from Elephant & Castle to Lewisham into an apartment-lined, pedestrian-friendly, traditional high street with shops and cafés replacing retail parks and supermarkets.

Tower Hamlets

PW reports that a large basement beneath the garden of the City Quay residential development at St Katherine Docks, E1, will go under the hammer at Stretton’s December auction.

ES reports that a sensitively designed new-build scheme of 49 flats in Commercial Street, called London Square Spitalfields is the latest architectural intervention. The handsome blocks with brick façades wrap around listed Toynbee Hall and bring a welcome new green space with a public garden woven into the streetscape.   Prices rise from £695,000 to £1.12 million for a three-bedroom apartment with roof terrace.

ES reports that Circle Housing Group is selling shared-ownership flats as part of the St Paul’s Square development in Bow.  The development is just off Bow Common Lane and less than half a mile from Mile End Tube station in Zone 2, on the District, Central and Hammersmith & City lines. A 25 per cent share of a one-bedroom flat is £91,250 and a five per cent deposit is required with a monthly rent of £627 and mortgage of £457.