INDUSTRY NEWS

Vauxhall Island Towers receive financial backing

A two-tower mixed use development for Vauxhall Island has received financial backing from the chief executive of Fal Oil. Kylun, the developer behind the plans, purchased the site from Watford Maritime Pension Fund in October 2009.

The towers will be 41 and 31 storeys high reaching heights of 140.5 and 115 metres respectively. In total the project will bring nearly 30,000 square feet of sought-after London office space to Vauxhall. The towers should be completed by 2015, with construction due to begin in 2012.

The development is part of the regeneration plans for the Nine Elms area. Improvement of the walkways under the nearby rail arches and pedestrian and cycle crossings are also planned. A representative for Kylun Ltd stated, ‘We believe these proposals will be the start of a new employment and leisure hub at Vauxhall Cross that complements the wider regeneration planned for the area.’

 

Image: Flickr (Ell Brown)

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