Royal Mail plans huge West End development

Royal Mail is planning a huge retail, office and homes development right in the heart of the West End to raise money from its redundant property assets. It confirmed last week plans to lose 1,700 jobs, to cut costs, and to close two of its London distribution sites. It will, within weeks, submit a planning application for a site near Tottenham Court Road, on Rathbone Place. The site will be vacated in 2013 and once Royal Mail gets planning consent it will be sold.