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Toworth Broadway
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366 Ewell Road
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St Marys Road
Tolworth Tower sold to Kingston property developer
The 22-storey block went back on the market in July with an asking price of about £45m, two years after a syndicate led by Simon Cowell’s brother Nicholas dropped plans to buy it.
CNM, the firm behind Tolworth's Red Square development, Surbiton's Plaza II and the impending refurbishment of the old Gala bingo hall in Kingston, sealed the deal at the end of last week and has promised “something stunning” for the area.
Estate agents Knight Frank said at the beginning of the sale period the tower had potential for both residential and office space, as well as shops and leisure facilities along Tolworth Broadway. Government policy allowing unchallenged conversion of offices to flats expires in May 2016. Other CNM sites in progress include the former police station in Ewell Road and a planned regeneration near Sutton train station, given the go-ahead next last year.
Further afield, CNM came under fire last month for a lack of movement on the redevelopment of crumbling Birnbeck Pier in Weston-super-Mare, which it agreed to buy in 2011. CNM lists the project as at the concept design stage, and the BBC reported at the end of September the company is taking advice on a possible solution. A set of apartments nearby was approved for construction in 2011. CNM's website said the firm began work this July and plans to finish in January 2016.
It is the second major announcement for Tolworth in a week. Last Tuesday Tesco revealed plans for 800 new homes on the other side of the A3, including a 23-storey apartment block. Residents and councillors raised concerns over the redrawn plans, citing potential pressure on infrastructure from so many new people, but some predicted more footfall for Broadway businesses.
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