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Sydney-based developer Third.i has acquired prime real estate on the banks of London's Thames River, with a view to transform the 1980s-built Westminster Tower into a luxury apartment block called 'The Doulton'.
The name is a nod to the building's former status as a manufacturing site for the iconic English ceramic, crystal and glassware company Royal Doulton.
Third.i has unconditionally exchanged contracts for the purchase of the 4,375 sqm 14-storey office block, which will be developed into its third major residential project in the UK capital since entering the market five years ago.
The group has secured Ant Yapi, one of Europe’s leading construction firms, as its building partner for the project, with BANDA as the interior designer and architect.
The Doulton comprises a 28 apartments including three lateral whole floor penthouses with 360 degree views, and 25 two-and three-bedroom apartments.
In terms of sheer volume of dwellings, this may pale in comparison to the 160-bedroom 'Graphite Square' project Third.i is working on in the London suburb of Vauxhall with a launch due later this year. But the developer believes it will become iconic and provide "some of the best views ever offered of London’s icons and the City of London".
The site includes 18 parking spaces and 308sqm of commercial space.
"We are delighted to be expanding our international footprint with an exchange on this landmark London building," says Luke Berry, who co-founded Third.i’s with Robert Huxley and Ron Dadd, the latter having moved to London last year to head up the new office in Vauxhall.
"The Doulton will offer some of London’s most enviable views that will never be built out or repeated, combined with exquisite interiors designed and implemented by BANDA.
"The Doulton delivers an ultra-exclusive and luxurious collection of homes where London residents can be proud to live."
Third.i is already on track to acquire three additional sites by the end of 2024 in London, which combined will add an impressive gross development value (GDV) in excess of $1.5 billion. In addition, its UK team has doubled in the last two years.
Third.i has a total development pipeline worth $4 billion, including the $650 million Waranda on Walker development in North Sydney that was announced in July last year.
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