JTRE London has acquired the long leasehold interest to develop a £400m mixed-use scheme in Southwark.
The developer is set to build the 220 Blackfriars Road, SE1, scheme in partnership with Southwark Charities to provide new office space and charity housing.
Once completed, the site will offer a 21-storey building with 219,000 sq ft of grade-A offices, with a new food and beverage offering, and a 15-storey tower that will provide 62 almshouses, a charity hub and a community hall. Southwark Charities will offer these as affordable residential homes for local people in need, with a café or restaurant at ground level.
The 21-storey office block, which will also feature roof gardens, will be the tallest and highest-value scheme to be developed in the area in recent years. The offices at the ESG and social impact-focused scheme will be net-zero-carbon in operation and are targeting top sustainability credentials.
The new charity hub will provide office space for the voluntary and charity sector at a significantly discounted rent of around 80%, and a new garden square will be created at the site for use by residents and the wider community.
While the site is redeveloped, existing residents will be moved to the Appleby Blue almshouse on Southwark Park Road, which was completed by JTRE London in summer 2023. The Appleby Blue almshouse, operated by United St Saviour’s Charity, offers 57 affordable homes for older residents.
Chris Wilson, chief executive and clerk to the trustees of Southwark Charities, said: “Southwark Charities has owned the site since 1752, and we are excited by the opportunity to breathe new life into a site with so much history and a deep-rooted connection to the charity.
“This deal gives us the means to provide the best-quality housing for our residents and brings new energy to the area through office, retail and green space. Every penny generated from the development will stay in Southwark and will be spent delivering the vital work of the charity.”
Caroline Croft, chair of Southwark Charities, added: “This is a once-in-a-generation project for us, and we chose our development partner very carefully.”
Nigel Fleming, joint managing director at JTRE London, said: “This deal will be the third JTRE scheme in the London Borough of Southwark and takes our portfolio to nearly £1bn in less than five years.
“The scheme will further enhance our reputation for delivering quality, complex and substantial placemaking projects, and for a site with so much history and importance to the local community we are committed to delivering an iconic new part of Southwark which serves not only workers and residents but the wider community.”
Demolition of the existing Edward Edwards’ House almshouse on the site is due to begin in March.
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