INDUSTRY NEWS

£600m London office redevelopment scheme gets the nod

Chelsfield and London & Regional Properties’ £600 million redevelopment of the London office building Elizabeth House has been given the go-ahead.

Planning officers at the London Borough of Lambeth Council approved the scheme by four votes to two in a move that will see the old 1960s building, situated in Waterloo, demolished and replaced with two new structures – an 11-storey building and a 29-storey tower.

The 29-storey tower will provide 12 floors of office space, as well as 142 homes on the floors above. The smaller property will serve the sole purpose of providing offices, as well as a small amount of retail amenities positioned on the ground floor.

Council planning officers had previously voiced their support for the scheme in a report to the Council. They suggested that the development would: “provide a significant uplift in employment floorspace which would create jobs and training apprenticeships during the construction phase of the development.”

The report also stated that the scheme would attract more custom for firms in the area, as well as creating more jobs in the Waterloo area.

Not everyone was quite as supportive though.

English Heritage, the body responsible for protecting the natural environment in England, had previously raised concerns about the project; they argued that the new buildings would obstruct the view of the River Thames from the Westminster World Heritage site. However, these concerns have been allayed, according to the newly approved plans, with assurances made that the views will remain protected.

Just one part of a wider regeneration of Waterloo and its surrounding areas, this new development has been designed by David Chipperfield Architects.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.