US-based investment manager Carlyle has appointed Knight Frank to identify and secure a joint venture funding partner for its 1.4 million sq ft (130,000 m2) mixed-use regeneration project on the South Bank of London’s River Thames.
US-based investment manager Carlyle has appointed Knight Frank to identify and secure a joint venture funding partner for its 1.4 million sq ft (130,000 m2) mixed-use regeneration project on the South Bank of London’s River Thames.
Carlyle, which received planning permission for the residential-led, mixed-use development in March this year, said it is looking for a funding partner after receiving unsolicited enquiries from a number of international investors from the Middle East, Asia Pacific and North America.
Situated directly opposite the City of London, the Bankside Quarter scheme will comprise nine new buildings of between five and 48 storeys in height and 35,000 sq ft of new public space, including a central square and new gardens.
Carlyle intends to begin the first phase of the development next year, once funding is in place. This will involve the demolition of the current Ludgate House office building and subsequent construction of a new 48-storey residential tower comprising 211 apartments, as well as a 17-storey residential tower right on the river’s edge.
Construction of the next phase will commence once Carlyle receives vacant possession of the Sampson House site in June 2018.
Commenting on the scheme, Mark Harris, managing director at The Carlyle Group, commented: 'Bankside Quarter will transform the area of the South Bank around Blackfriars over the coming years, and offers a once-in-a-lifetime opportunity to regenerate a prime, central riverside site of significant scale in London.'
