Redevelopment of Weymouth Street

Redevelopment of Weymouth Street (07/12/2007)

Eighteen months ago the Board's landlord, Elvaston Investment Limited, approached us to discuss the development of their residential complex at 10 Weymouth Street. The development would also encompass the Board’s premises at 8 Weymouth Street.

The development proposal included increasing the floor space at ARB by approximately 121 square metres to allow Elvaston Investment Limited to build upwards on the site, giving them a higher number of residential properties at 10 Weymouth Street.

As part of the negotiations, the Board has secured a modern, assignable tenancy in place of the onerous 60 year lease it had before. Elvaston Investment Limited is also meeting the costs of ARB’s temporary accommodation at 7 Portland Place for the duration of the building works, estimated to take around 15-18 months.

Thereafter, the Board will return to a refurbished and extended 8 Weymouth Street. Improvements will include the installation of disabled access to meet the disability legislation, and a larger, more functional meeting space which will allow Board meetings to be brought back in-house.