Stanhope JV buys stalled £450m London Bankside office scheme

The £450m Row One improvement has been designed by Danish architect BIG on the former Crimson Lion Court docket website beside the outdated FT headquarters on the banks of the Thames.

The positioning has already been cleared by contractor Erith beneath former proprietor Landsec with planning already in place for 250,000 sq ft of next-generation workplace and retail area.

Enabling works will start shortly, paving the best way for a two-year essential construct programme. Mace had been in line for the £200m building deal earlier than Landsec pressed pause.

The 11-storey tower will ship 235,000 sq ft of versatile workspace and 15,000 sq ft of retail and F&B area, with 18 riverside terraces, wellness services, 724 cycle areas and 54 showers.

The all-electric constructing is focusing on NABERS 5*, WELL Platinum and BREEAM Excellent scores, with Stanhope managing supply.

Stanhope’s Joe Binns mentioned the deal was a uncommon likelihood to safe a “de-risked, best-in-class” South Financial institution challenge as Grade A provide tightens.