The developer First Base and private investment firm Starwood Capital Group are to create a mixed-use development on Tower Bridge Road in Southwark.
The Bermondsey site currently comprises around 17,200sq m. Upon completion, the new development will include a major residential component, along with underground car parking and commercial space. Residents will have direct access to the bars, restaurants and shopping on Bermondsey Street.
The joint venture team has appointed global design firm Arney Fender Katsalidis to guide the residential-led scheme, with the additional goal of creating a new public square and workspace tailored to the start-up technology and creative businesses clustered in the area. The site has a gross development value in excess of £100 million.
Barry Jessup, director at First Base, said: “This is a hugely exciting project for us, and an opportunity to revitalise the existing site to create a sustainable mixed-use scheme that responds to the diversity and heritage of the area.
"The current site obstructs pedestrian routes from Bermondsey to the river, which we would like to re-establish, as well as create new public areas that serve the local community and link with the adjacent churchyard. We look forward to working with Southwark Council and the local community to advance our plans.”
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