Alternative asset manager Cheyne Capital appoints McAleer & Rushe, a UK design and build company for a £50m contract in Westminster. McAleer & Rushe will work alongside Cheyne Capital’s in-house development team to deliver an innovative co-living and hotel community-orientated project on the banks of the Grand Union Canal.
The £140m mixed-use scheme will transform the site of the former London Taxi Drivers’ Association HQ in Westminster, London. Designed by Allford Hall Monaghan Morris, the co-living building is designed to achieve a BREEAM Excellent rating and will vary in scale and height – ranging from three to 12 storeys, and it will incorporate 2200 sqm of green biodiverse roofs. The facade will be predominantly brick with varying reveals, while the pavilion building will feature terracotta rainscreen cladding with large format glazed elements to enhance visual connections across the canal-side.
“We have selected McAleer & Rushe to help deliver this project because of their expertise in delivering high quality, creative projects in Central London. Their commitment to building sustainably is aligned with our own values and we look forward to seeing this project come to life during the build phase.
“This will be a landmark development for Westminster with a strong focus on community engagement. Taxi House will deliver a wide range of amenities, open to residents and the public, promoting an exciting location to live and visit.”Jack Greenhalf, Development Manager, Cheyne Capital
The new co-living scheme will deliver 332 modern rooms featuring amenities including a wellbeing centre, swimming pool and cinema. The key aspect of the development is the high-quality space dedicated to community groups and businesses. There will be 1100 sqm of workspace specifically designed for SMEs, small start-ups and craftspeople. 20% of the space will be capped at affordable levels to encourage community-led projects and the creative industries.
The scheme also supports the socio-economic regeneration of the area. It includes a number of significant public realm enhancements, such as a new piazza which will enable public access to this part of the waterside for the first time and form a new dining and community-focused destination.
“We are delighted to have won another significant contract in London with this development complementing the exemplary work of our team on other major projects including Mount Pleasant and Wandsworth, further reinforcing our growing footprint in the city.
“This community-focused scheme will have a transformative impact on the local area through the social value it will add with its dedicated community space and the economic value it will generate, via the allocation of affordable small business hub workspace.
“We are excited to be working alongside Cheyne Capital to deliver this project which we know will have a positive lasting impact on the local community for years to come.”Mark Elliott, Contracts Director, McAleer & Rushe