Native Land and its consortium partners Temasek, HPL and Amcorp Properties have received planning approval for revised proposals for part of the £1bn Bankside Yards scheme, SE1.
The revised plans will see 341 new homes created – 109 more than in previously consented plans – and a 5-star hotel within a clutch of five buildings on the site of the now demolished Sampson House, just west of Tate Modern.
This part of the site is to be known as Eastern Yards, and accounts for 550,000 sq ft of the 1.4m sq ft scheme.
Construction of the first phase at Bankside Yards, known as Western Yards, on the site of Ludgate House, started last year and includes a 230,000 sq ft office building, a 240-home apartment building, and 49,500 sq ft of retail, restaurant, cultural and amenity space in the restored railway arches.
Alasdair Nicholls, chief executive of Native Land, said: “This new planning consent will create a true mixed-use development which brings London together, with new east-west pedestrian routes, multiple transport links, a new village high street in the arches and new town square for Bankside, overlooking the river. We’ve conceived Bankside Yards as a central London place where visitors, office workers, residents and neighbours come together.”
The entire project originally received planning consent in 2014, when it was owned by The Carlyle Group.
Native Land and its partners acquired the 5.3-acre site in 2015 for around £308m.
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