Alliance Property Asia Inc, incorporated in the British Virgin Islands, has submitted plans to Tower Hamlets Council for a 540,000 sq ft, 19-storey office tower.
The EIA application is for a site at 101 Whitechapel High Street, E1, next to Aldgate East tube station. The City Fringe district has seen a lot of activity in recent years from both commercial and residential developers.
Alliance Property Asia, an SPV set up to develop the project, acquired the site for £7.5m in 2016. The developers propose a land swap with an adjoining primary school, which would create a new playground with multi-sports facilities, improved access and a potential extension to the school.
The new office tower would provide space for up to 3,130 jobs with retail space at ground level and a regenerated public realm.
South Street Asset Management and Development Managers are the joint development managers for the scheme. Foster + Partners is the architect.
South Street Asset Management is a property management service specialising in student accommodation, with more than 3,700 beds under management.
Its chairman is Asif Rangoonwala, who is also owner of the largest marine motorsport brand, Powerboat P1. It manages racing on a global level and since 2003 has promoted more than 385 racing events.
DML Development Managers is a privately owned real estate development and project management business. DML has been appointed by South Street Asset Management to drive the planning process, stakeholder engagement, design development and construction aspects of the project.
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