AlloyMtd appoints Mace to redevelop London property

> Malaysian firm bought One Crown Place in 2013, now turning it into mixed-used project

LONDON: Malaysian infrastructure conglomerate AlloyMtd Group has appointed Mace, a global construction and consultancy company, to deliver the redevelopment of One Crown Place in London’s EC2, a property the group purchased in 2013.

AlloyMtd Group acquired One Crown Place in 2013 from UBS, marking the re-entry of the group to London’s real estate and property market. It was reported that AlloyMtd spent two years convincing Hackney Council to allow it to turn One Crown Place into a mixed-use development.

Metacorp Bhd, a wholly owned subsidiary of AlloyMtd was an equal partner in the Spitalfields office development in London between 1996 and 2000.

Global property firm CBRE was appointed by AlloyMtd in 2015 to act as development manager, to sell the site’s 246 private apartments and lease 140,000 sq ft of commercial space.

Following a successful preconstruction phase, AlloyMtd said Mace was chosen because of its experience in building high quality and complex developments. Construction is due to begin on the site in April this year and be completed in the fourth quarter of 2020.

AlloyMtd Group CEO Tee Kim Siew said this is a major milestone for the project and for the group.

“We look forward to working alongside Mace to realise our vision for this landmark scheme and see them forge ahead with construction for the new office podium and residential buildings, following the completion of the groundworks and hotel stabilisation.”

The unique feature of One Crown Place is its combination of modern, cutting-edge architecture housing a mix of modern offices with spectacular apartments on the upper floors. In contrast, the last remaining complete row of Georgian houses in the area fronts the scheme.

Measuring 22,000 sq ft of net area, they are to be sensitively restored to their former condition and will house a clubhouse for the residents, together with a boutique hotel.

One Crown Place will house two residential towers located above a podium office space. The residential accommodation will provide 246 private apartments.

The office space is to be housed in two buildings: a new podium building and the refurbished 54 Wilson Street building, providing 120,000 sq ft and 20,000 sq ft of net floor area respectively. Retail space is to be distributed across the ground floor of all of the buildings.