Luxury apartments slated for St James
Greek shipping tycoon Achilleas Kallakis has won approval for his bid to develop a St James' Park office block into luxury apartments.
Westminster Council approved the planning permission request last week, which will see 8 St James' Square - an unlisted 1930s building - transformed into one of the capital's most sough after residential estates.
The flats will range in size from 3,600 sq ft to 9,150 sq ft, prompting council officials to request a £4 million affordable housing grant in recognition of their "exceptional size".
Providing further evidence of the robustness of London's property market it has also been confirmed that the penthouse flat will be marketed at around £5,000 per sq ft - making it one of the most expensive prime estates in the capital.
Achilleas Kallakis had previously purchased the tallest building in Covent Garden with a view to turning from an office block into a flat, though office leases on that property are not due to fully expire until 2017.
Published 17th March, 2008
© 2008 Estates IT Limited
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Greek shipping tycoon Achilleas Kallakis has won approval for his bid to develop a St James' Park office block into luxury apartments.