Transport for London has named Triangle London Developments – a consortium of U+I and Notting Hill Housing – as its preferred partner in a joint venture which will build new homes, offices and retail space in Southwark Street.
The project will transform Landmark Court, a plot of land TfL acquired more than 25 years ago to aid construction of the Jubilee line extension, into a new multi-use development
Located within walking distance of London Bridge station, Borough Market, the Tate Modern and the Globe Theatre, the site will gain 80 new homes, 35 of which will be affordable, as well around 130,000 sq ft of new commercial, retail and workspace.
TfL says it will work to maximise outdoor public space and improve walking routes on Southwark Street, Redcross Way and Borough High Street. It’s also committed to safeguarding the historic Cross Bones Graveyard which adjoins the site.
Subject to contracts, the partners hope to start on site in 2019 and are aiming for a 2022 completion.
Graeme Craig, Director of Commercial Development at TfL said: “We are working with some of the best organisations across London to bring forward a portfolio of sites that will help to create the homes, jobs and work spaces London needs for the future.
“We look forward to establishing a long-term, joint venture partnership with Triangle London Developments to contribute to the Bankside neighbourhood, which has been known for centuries as a hotbed for London’s creativity and independent businesses.
“The development at Landmark Court will also provide vital revenue to invest in London’s transport network.”
Richard Upton, Deputy Chief Executive at U+I said: “We are privileged to have been selected to regenerate Landmark Court.
“This is an important site for the neighbourhood and an important site for London, steeped in history and at the heart of our ever-changing city.
“There is huge opportunity to create something very special here that really adds to and compliments the fabric of the neighbourhood.
“We are looking forward to working with the local community and Southwark Council to bring forward plans that celebrate the identity of this place, respects the history of the site, and creates a vibrant future.”