LandSec scheme could form part of 4m sq ft regeneration
Mark Cooper
Up to 371,600m2 (4m sq ft) of development could come to Southwark, SE1,with the new Tate at Bankside as a focus.
Land Securities is working on a redevelopment of its 60,385m2 (650,000 sq ft) St Christopher House and is promoting the potential of the surrounding area. It is also in talks with the Tate about the area’s regeneration potential.
The UK’s largest property company is understood to have made presentations to potential occupiers and to have raised the possibility of four or five office blocks of a similar size to St Christopher House in the area around the Tate.
LandSec’s Mike Griffiths said the firm was concentrating on plans for a 78,965m2 (850,000 sq ft) redevelopment of St Christopher House, which could potentially start in late 2002.
But Griffiths said: “There is obviously a lot of potential for the area, with the opening of the Tate this week, the Jubilee Line and the forthcoming Millennium Bridge, all of which will be bringing a lot of people into the area.”
The Tate has appointed Drivers Jonas to look at the development potential of its environs. It has surplus space beside Bankside which could be developed. Southwark council is keen to draw creative and media firms to the area.
Major regeneration of the area will depend on other landholdings being brought into the fold, such as Royal & Sun Alliance’s warehouses to the west of the Tate, Minerva’s Sampson House on Hopton Street and an LSE student accommodation block between St Christopher House and the Tate.
A central London agent commented: “This is a big area that’s ripe for regeneration but it will be in the 5-10 year time-scale, rather than 0-5.”
Jones Lang LaSalle is advising LandSec.
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Bankside, SE1 |
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Southwark wants new developments |
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Gallery has boosted area’s appeal |
