Network Rail snaps up London Bridge sites

By Jim Dunton - Thu 25 April 2013, 5:53 pm

Infrastructure operator Network Rail has bought a development-opportunity site next to the Shard for around £100 million, it has been reported.

It has paid an undisclosed sum to Union Car Parks for adjoining sites in St Thomas Street and Fenning Street that have a total area of 0.575 acres, according to website CoStar.

It said the site was recommended by Southwark Council for a major residential development stepping down incrementally from the Shard tower.

However, it added that Network Rail was thought to have bought the sites to mitigate compensation that other developers may be entitled to if work on its Thameslink programme overruns.

<

Share

Latest News

The great 'Mayflower 400' voyage

Grants have been awarded to the organisations preparing to celebrate the 400th anniversary of the world-famous Mayflower ship's maiden…

By Suruchi Sharma

Makeover for Keppel Row

By Suruchi Sharma

Young hearts run free

By Suruchi Sharma