Global alternative investment manager The Carlyle Group ('Carlyle') announces that this week it 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 site has been identified as an Opportunity Area in the Mayor of London's London Plan.
This landmark development would 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. It will also almost double the number of permanent jobs in the area to over 3,700 and deliver 35,000 ft² (approx. 3,251 m²) of new public open spaces, 25,000 ft² (approx. 2,322 m²) of retail and 18,500 ft² (approx. 1,718 m²) for cultural use. In addition, over 750 construction jobs will be created during the construction phase.
The site has been identified as an Opportunity Area in the Mayor of London's London Plan and The Carlyle Group believes that, by developing both sites either side of the railway viaduct, its proposals provide a once in a lifetime opportunity to remove the highly impermeable and overbearing barrier created by the current structures and create a new, thriving and sustainable riverside quarter with much improved employment and retail facilities.
This new urban quarter, which has been designed by PLP Architecture, will comprise nine new buildings of between five and 48 stories in height and open up the arches under the railway viaduct to create pedestrian access and additional cultural, retail and restaurant space to breathe new life into the street frontages, while retaining the character of historic streets such as Hopton Street. This part of Central London lacks open areas, and the scheme proposes the creation of 35,000 ft² of new public space including a central square, new gardens and children's areas, as well as the planting of over 60 trees. Furthermore, it connects with adjacent open areas and links the South Bank cultural facilities with the Tate Modern and Borough Market.
The development will comprise 1,400,000 ft² (approx. 130,060 m²) of total floorspace, including 940,000 ft² of residential, 450,000 ft² (approx. 41,805 m²) of new offices, 25,000 ft² of retail and 18,500 ft² of cultural space, including a cultural pavilion on the river's edge.
Three of the new buildings will be on the western side of the site, where the current Ludgate House office stands, with the remaining six constructed on the eastern location where the Sampson House block currently stands. Residential buildings will be positioned towards the north end of the site to capitalise on the riverside location and spectacular views of London, whilst office buildings will be located on the southern edge. The offices will offer space arranged over flexible floorplates from 2,500 ft² 13,500 ft² in size, to suit a wide range of business from multi-national organisations to local firms. All buildings will be built to