A consortium consisting of US and Korean developers has been granted planning permission to construct three towers at the southern end of Blackfriars Bridge in London. The c. €1.2b project, known as 18 Blackfriars, will feature two residential towers of 40 and 22 storeys respectively, as well as an office building reaching 45 storeys and topping out at nearly 200m.
The development will include over 400 new homes and 74,322m2 of office space. Hines, in partnership with the National Pension Service of Korea, acquired the 18 Blackfriars Road site for c. €243.4m in 2021.
The project is set to be the first high-rise scheme in the UK to achieve the WELL Community Gold Standard, which certifies developments that support health and wellbeing. The professional team includes Lipton Rogers as project manager, Arup as structural and MEP engineer, Alinea as cost consultant for the commercial and Gardier & Theobald as cost consultant for residential.
Ross Blair, senior managing director and country head of Hines UK, said: “We believe our plans for 18 Blackfriars will set a new standard in premium quality workspace in London, both fully integrated into its hyper-local community and seated right at the heart of our capital city. Bringing this scheme to life underlines our long-term conviction in London as a thriving, global centre for culture, education and business.”
Europe Real Estate — an overview of real estate developments in European countries.
