The site at 100 Avenue Road was demolished but then work was paused

A DEVELOPER which won the green light to build a tower block in Swiss Cottage a decade ago has sold the land without a brick being laid.

Essential Living has agreed to sell 100 Avenue Road to Regal London – the fee is yet to be disclosed on the Land Registry – but the new owner says it plans to “bring forward the aspirations” of the original scheme.

Regal said it would be seeking “amendments” to the original planning permission, which could see a squeeze on affordable homes or space for community facilities.

Monika Caro and David Reed, from the Save Swiss Cottage Action Group, said yesterday (Wednesday): “We will wait to hear just what changes Regal will make to the existing awful plan: a massive tower and two awful five and seven-storey side blocks, looming above the Swiss Cottage Library, a Grade-II listed building and one of Camden’s few buildings of merit, as well as perpetually throwing the Open Space into shadow.”

The 25-storey project, which first reached the Town Hall in 2014, was rejected by a majority of councillors on the planning committee but was eventually given approval on appeal by a government minister, Greg Hands, who overruled Camden.

The site, once home to the Ham and High newspaper office, was demolished but has remained a wasteland after the project was mothballed due to rising construction costs. Residents say the tower of private homes would be too high for the area and not catering enough for the need for social housing.

The delays have significantly affected the Winch Youth Centre which was promised a new home in the original planning deal with the developer.

Yesterday (Wednesday), chief executive Rashid Iqbal said: “The change in ownership marks a significant step for the development and for the Winch. We are excited to see the revitalisation of the site, which has laid dormant for too long. We hope that the new owners commit to delivering the benefits that the development promised.”

Essential Living, which bought the freehold to the site in 2012 for £33.5m, was branded “utterly shameless” when in 2021 it attempted to remove all the social housing from its plans in a bid to make the project “financially viable”.

It argued at a planning appeal hearing that it could lose £70million if it was forced to build the scheme as had been originally agreed.

Regal – the firm behind plans to redevelop buildings next to the Roundhouse in Chalk Farm – has not said whether it will try to remove any social housing from the scheme. But has said it will not start rebuilding the tower block until its has applied to Camden Council for “amendments”.

Regal said they were “committed to delivering this long-standing project efficiently and at pace” and “to bring forward the aspirations that were approved as part of the extant consent”, adding: “This includes significant community facilities that the local neighbourhood has been long waiting for, alongside new affordable housing.”

Robbie Myerson, co-CEO of Essential Living, said: “We are pleased to conclude the sale to Regal London and finally see this site delivered. This will allow Essential Living to recycle capital and focus on the growth of its inner London PRS investment strategy.”