The Health Campus scheme collapsed in 2005 and in February 2006 the Paddington Development Corporation - now European Land and Property Ltd - submitted a new planning application. Branded as Merchant Square, this proposed of mixed-use space spanning 6 buildings, including 554 residential units and 58% commercial space. Planning permission was granted on 1 March 2007. A revised planning application was subsequently submitted and was approved on 19 May 2011. 4 Merchant Square, a 16-storey block of 196 flats, designed by Tryfon Kalyvides Partnership, is now complete; 5 Merchant Square (formerly Carmine) is a 14-storey office block of designed by mossessian & partners and part-occupied by Marks & Spencer, which also occupies the Waterside Building.