A Capita Land-backed consortium is on the cusp of exchanging contracts to buy Carlyle Group’s £325m Bankside Quarter scheme on the South Bank.
The Singaporean developer is working with Native Land and several other investors to bring forward a 1.4m sq ft scheme on the SE1 site currently occupied by office block Ludgate House and data centre Samson House.
The scheme has been under offer since last autumn but is expected to exchange shortly.
Carlyle bought the buildings as part of the White Tower portfolio in 2010 and achieved planning consent for the scheme a year ago.
The site, to the south of Blackfriars Bridge, will house nine new buildings ranging from five to 48 storeys, which will comprise 489 flats, 288,000 sq ft of offices and 26,000 sq ft of shops.
Temasek, the investment company owned by the state of Singapore, is the largest shareholder in Capita Land.
The deal highlights Singapore’s appetite for exposure to London development. Temasek also holds a 25% stake in the £1.5bn 22 Bishopsgate project on the site known formerly as the Pinnacle, EC2.
Knight Frank is advising on the Bankside sale.
