Real estate developer Bourne Capital has confirmed that its Waterloo Central development has been granted planning approval by Lambeth Council.
The development will provide 29,264 m2 of workspace including 1,672 m2 of affordable space for the creative and cultural sectors, including a non-profit recording studio operation managed by Ronnie Scott’s Charitable Foundation, in addition to a new creative auditorium and performance space for the local community.
Designed by BuckleyGrayYeoman, the development will be sustainable and electric, featuring the UK’s first integrated solar-façade system as well as BREEAM Outstanding and WELL Platinum certifications.
Ben Bourne, managing director, Bourne Capital said: ‘As long-term investors in Waterloo we are committed to delivering a development that will achieve real positive change for the area supporting Waterloo and Southbank’s role as a cultural hub for London as well as providing high quality workspace with the highest sustainability credentials to attract the next wave of dynamic and forward-thinking businesses to the area. Waterloo is set to undergo huge transformation, with Lambeth Council recognising the value that business brings to the area and the role that modern workspace plays in this.’
The project will contribute over £1.5 mln (€1.7 mln) toward local public realm improvements and is expected to boost the local economy by more than £238 mln (€273 mln) per year in additional economic activity.
Waterloo Central is part of a wider rejuvenation of the Waterloo Opportunity Area within the London Borough of Lambeth, with 6,000 new jobs and 1,500 new homes anticipated in Waterloo in the coming years.
Bourne Capital has so far transacted over £1 bn (€1.1 bn) of real estate deals with current assets in excess of £600 mln (€688 mln).
