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LTDA sell iconic Taxi House for £21.25m to move to new state of the art facilities

27 Feb 2019

 

After over 40 years at Woodfield Road’s Taxi House the Licensed Taxi Drivers’ Association is moving on to new pastures south of the river.


The current building has been sold for a reported £21.25million and will be moving in 2020 to a new purpose built state of the art facility in SE1.

Steve McNamara, General Secretary of the LTDA said: “Our current building has served us well, but in recent years the layout and design have become unsuited to our current needs. We have extended the building twice in the last 15 years but as the demands of our increasing membership have changed we are once again in need of extra space.

“Our new building will give us an extra 1200 sq ft and the layout will be designed to suit the 21st century. This will include a doubling of space allocated to our legal department with extra offices, conference rooms and CCTV viewing suites.

“The amount of members coming into the existing building for assistance with DBS checks, licensing renewals, medical problems, PCNs and road traffic offences has resulted in members having to wait for longer than we would like. This will not be a problem in the new building where extra interview rooms and office space will enable us to provide an even better service to our growing membership.

“Over the years we have received dozens of offers for our existing site but the requirement on developers to provide 30% social housing on any new development has seriously impacted on land values. I am pleased to inform you that as a result of selling the existing building to a mixed usage development we have managed to achieve a sales price of nearly 20% above our 'Red Book' valuation realising £21.25 Million.

“The new Taxi House has been bought freehold and we are currently negotiating the price of the build project and I will share the details with you as soon as its finalised. 

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