Capital & Counties welcomes the decision from the London Borough of Southwark which has resolved to grant consent for the remodelling and redevelopment of King's Reach, an office, retail and residential complex on Stamford Street, SE1, just south of the River Thames.
The proposals, designed by leading architects Make will continue the regeneration of this important part of the South Bank, revitalising it for residents, visitors and office occupiers.
Since 2002, Capital & Counties has been working closely with London Borough of Southwark, community groups and residents to ensure the proposals met their aspirations for the area.
The proposals for which consent has been granted will include the recladding of the existing tower and extension by a further four floors. The presence of the tower will be transformed with the imaginative use of colour and light. In the case of the existing low rise office building, a new [office village' will be created with the replacement buildings capable of offering floor plates of up to 24,000 sq ft.
New retail units and cafés will be introduced to create vibrant and friendly public spaces replacing the existing unattractive and dated Milroy Walk shopping arcade. This enhanced public realm will vastly improve the permeability of the site and link the Oxo Tower, Coin Street and the South Bank through to Stamford Street and beyond. Overall, office and retail floor space will increase from 274,000 sq ft to almost 400,000 sq ft.
John Saggers, Managing Director of Capital & Counties, said: "We very much welcome the decision taken by the London Borough of Southwark and believe the scheme will enhance the local area and complement the regeneration already taking place. The South Bank area is proving attractive to a number of new occupiers drawn by the changes that have taken place to the transport infrastructure and the vibrancy of the environment. We will be spending the forthcoming months refining the details of the project prior to IPC's departure from King's Reach tower in 2007."
Source: Liberty International