Investment manager Carlyle Group this week intends to submit a detailed planning application for a major residential and office led mixed-use regeneration project to create a new urban town centre on the south of the River Thames between the South Bank and Bankside.
Investment manager Carlyle Group this week intends to submit a detailed planning application for a major residential and office led mixed-use regeneration project to create a new urban town centre on the south of the River Thames between the South Bank and Bankside.
The development will deliver 35,000 sq ft (3,250 m2) of new public open spaces, 25,000 sq ft of retail and 18,500 sq ft for cultural use. In addition, over 750 construction jobs will be created during the construction phase. It would also mark 'a significant step forward' in the ongoing renaissance of this part of Southwark by providing a destination neighbourhood with 492 new homes for those working in the area and the City, the company said in a press release.
This new urban quarter, which has been designed by PLP Architecture, will comprise nine new buildings of between five and 48 storeys in height. The development will comprise 1,400,000 sq ft of total floorspace, including 940,000 sq ft of residential, 450,000 sq ft of new offices, 25,000 sq ft of retail and 18,500 sq ft of cultural space, including a cultural pavilion on the river’s edge.
At 48 storeys the tallest tower will stand opposite the proposed One Blackfriars development to form a new physical 'Gateway', on the south side of Blackfriars Bridge, connecting the City and Southwark.
The project will be delivered in multiple phases with works expected to be completed between mid-2020 and early 2023.
'This is a once in a lifetime opportunity to truly regenerate and reinvigorate a large, important and extremely well-located, but underutilised, site right on the River Thames,' said Mark Harris, managing director at The Carlyle Group.
