Guy’s & St Thomas’ Foundation, in partnership with Oxford Properties and Reef Group, has revealed redevelopment proposals for its one-acre Snowsfields Quarter site, SE1.
The scheme, which has a gross development value of about £350m, is the foundation’s second life sciences-led scheme in the area, with the nearby Royal Street site under development with partners Stanhope and Baupost Group.
The Snowsfields Quarter scheme will add a new lab facilities in London Bridge, an area that suffers from an acute lack of commercial R&D space, with proposals to create a life sciences hub.
The developers plan to demolish all of the existing buildings and bring forward three buildings, ranging from seven to 14 storeys, with a total of 358,000 sq ft of lab and office space, a public house, café and community floorspace.
It is anticipated that the scheme will be constructed over a period of two and a half years, subject to planning.
Oxford Properties and Reef are working with a design team including Urban R, Perkins&Will and DSDHA to draw up plans for the site, with a planning application to be submitted to Southwark Council in due course.
The sale of a long-term leasehold of the site to Oxford Properties will complete subject to achieving planning permission for the project.
Image © Allies and Morrison
Send feedback to Evelina Grecenko
Follow Estates Gazette
