An American-based property firm has unveiled plans to redevelop part of the South Bank.
The Carlyle Group has revealed that it is set to apply for planning permission to construct around 450,000 sq ft of London office space as part of the regeneration project. It will also feature 492 new homes, 25,000 sq ft of space for retail amenities and a further 18,500 sq ft which will be dedicated solely to what has been described as cultural space.
The nine buildings, with the smallest featuring just five storeys and the largest composed of 52, will sit on both sides of the Blackfriars Bridge’s southern section.
In order to regenerate the area Carlyle would need to demolish two existing London office buildings – Sampson House and Ludgate House. This obviously means that work, if planning permission is granted, cannot begin until the respective leases on these buildings have expired. As a result of this construction work might not begin until 2018.
However, it is more likely that the work will be completed in phases.
Carlyle has stated that the plans have been warmly received at the initial public consultations.
Mark Harris, managing director at The Carlyle Group, commented on the plans.
He said: “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.
“We plan to replace the existing impermeable block structures with a new, highly accessible urban quarter complete with new residential, retail and office facilities, as well as cultural centres and large new public spaces right on the riverbank.”
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