Overcourt is to submit plans to Southwark Council for a 24-storey office tower, just off Blackfriars Road, SE1, and close to the River Thames, within an emerging tall buildings cluster.
The development site includes a number of properties at 16-19 Hatfields and 1-5 Paris Garden.
The estate was purchased from MEPC in the late 1980s and has been managed as a multilet investment ever since.
The plans will include more than 500,000 sq ft of office space, as well as 44,000 sq ft of retail use.
Public roof gardens are proposed on top of the refurbished listed buildings.
The major new office building will be raised three storeys above the ground, allowing for a new east-west route through the site, as well as new public space at its heart.
The developer, along with architect KPF, is exploring the potential to introduce events or activities such as markets or embedded public art into the design of the new square, which will be approximately 10,500 sq ft.
Overcourt is a long-term investor in Southwark, where much of its portfolio is located.
It is represented by Alan Cook Consultancy as project coordinator and development consultant.
Gerald Eve is advising on planning.
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