Q&A: TIAA Henderson's Clive Castle on the company's plans for Midtown

摘要

In July, TIAA Henderson lost its battle to redevelop Smithfield Market, when communities secretary Eric Pickles upheld the planning inspector's view that plans to demolish some of the historic buildings were "wholly unacceptable". But three months later, the fund manager is drawing up fresh plans for the site. Clive Castle, director of property, central London offices, tells Hannah Brenton why the firm is still keen on Midtown generally, having recently secured planning permission to refurbish Commonwealth House at 1 New Oxford Street. What's the attraction of Midtown as a market? We are long-term investors in Midtown - it's an area we like, Traditionally it was a buffer zone between the City and West End. Over the past few years, it has changed and we're seeing inward migration of new occupiers, particularly from the West End. Commonwealth House was a prime opportunity because it creates the kind of building many occupiers want.