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Camden News - by JAMIE WELHAM
Published: 26 March 2009

Artist’s impression of the Noho Square site

It’s no to Noho: Controversial plans for hospital may torn up as new developer moves in

NEW developers look set to take over the former Middlesex Hospital site in Fitzrovia, possibly spelling the end for the eye-catching but much-maligned “Noho Square” project.
The site was once controlled by the tycoon Candy Brothers – Nicholas and Christian – and was due to be turned into a block of luxury flats under the scheme.
Demolition work has already been carried out but the brothers bailed out of the scheme last year and Icelandic bank Kaupthing, which now owns the entire site, confirmed on Monday it has opened talks with Stanhope Plc, the property company behind the Imax Cinema and Tate Modern.
While its future remains uncertain, residents in the area are optimistic that a more “sympathetic” development will take shape and that the name “Noho” will be dropped.
Max Neufeld, chairman of the Charlotte Street Residents Association, said: “The horrible behemoth scheme has finally seen its end. Like a bad dream its gone. And I suspect that horrible Noho name will disappear for good. Whatever it is it’s going to be here for many years so I just hope they get it right.”
If an agreement is reached, Stanhope will oversee the development, design and reorganisation of the site in a deal rumoured to be worth £50million. A statement from the managing director of Kaupthing Bank said: “Kaupthing is currently engaged in exclusive discussions with Stanhope PLC. If an agreement is reached Stanhope will oversee the development, design and reorganisation of the site with the aim of maximising its value.
“Should it go ahead, Stanhope will also inject new capital into the project. If a partnership agreement is reached with Stanhope, the bank will retain majority control of the site.”

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