Jacob Loftus’ General Projects has been granted planning to develop a 1.5-acre underground bunker in Vauxhall, SW8, allegedly once occupied by MI5.
The space, known as Storybox, is located underneath Mount Anvil’s 37-storey Keybridge House residential tower.
The 58,000 sq ft bunker was acquired by General Projects and British Airways Pension Fund in early 2019 along with 40,000 sq ft of ground-floor space above.
The broad planning consent reflects Loftus’s equally broad plans for the scheme. Rather than have a specific occupier or asset class in mind for the space, he has opted to build enough flexibility into the plans to attract interest from several potential tenants.
While General Projects has floated several ideas, including using the space as a life sciences laboratory or an underground gaming experience, the ultimate end use is still undecided.
“We are not 100% sure what will happen with the space or who we will partner with,” said Loftus. “Instead we have worked to enhance the basement so it can cater for the most extreme possible occupancy uses, which hopefully means it will be resilient enough for every possible permutation.
“We have worked out what sort of occupation would result in the most intense use of people and have planned for that. We worked out who could be the most power and electricity-hungry and designed for that. Rather than try to communicate a finished product, we are trying to communicate an opportunity for a potential occupier by applying for a highly flexible planning consent.”
In terms of timelines, Loftus said that “in theory” the space could be ready for tenants to move in within three months.
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