Hong Kong-based private equity group Gaw Capital and City & Docklands proposals for an option to replace two office buildings in London's Docklands with a 52-storey residential tower are set to gain consent.
The duo's Make-designed plans for 4 and 5 Harbour Exchange Square go before Tower Hamlets council's Strategic Development Committee on 16 July.
As part of a wider future strategy, they are seeking consent for the option to replace the existing office buildings and in their place develop a mixed-use residential led building comprising 450 homes and a new podium level to accommodate flexible retail, community, creative, and amenity uses as well as basement level blue-badge parking, new public realm and landscaping.
Recently, Gaw Capital UK signed the University of Sunderland for a 95,628-square-foot lease at 4 and 5 HX for a minimum term of 10 years. The University of Sunderland was an existing tenant of HX.
The residential plans, which were submitted in 2022, propose construction of a single building of 52 storeys reaching 175.7 metres as well as two basement levels.
There would be 480,000-square-foot (44,590 square metres) of residential and 120 affordable homes, amounting to 35% by habitable room.
Planning officers are recommending the application is consented saying it is "considered to be well designed and generally complies with relevant development plan policies. It is on this basis that the grant of planning permission, subject to conditions and obligations is recommended".
Building 4 and 5 are the smallest in terms of floorspace within the Harbour Exchange Estate, with Building 4 comprising 5,235 square metres (56,000 square feet) and Building 5 comprising 3,565 square metres (38,000 square feet).
Gaw Capital Partners acquired the property for £36.2 million from Clearbell Capital in 2018.
The wider Harbour Exchange comprises nine separate office buildings across a nine-acre private campus within Zone 2, linked to the West End and City with the Jubilee Line, the Docklands Light Railway and the Elizabeth Line.
(This story has been updated to say the consent for provide an option for development.)