Transport for London (TfL) has announced that it is searching for a new joint venture commercial office portfolio partner to create three new commercial office developments at Bank, Paddington and Southwark
TfL is aiming to deliver sustainable commercial office developments to positively impact the local community through this new joint venture partnership.
The three over-station commercial office developments in the partnership are:
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Bank Over-Station Development
Located above the new station entrance on Cannon Street, this eight-storey development, along with a basement, will include both office and retail space, external terraces on fifth, sixth and seventh floors and a green roof.
2. Paddington Triangle Over-Station Development
Located by Grand Union Canal and close to the new Elizabeth line station at Paddington, this 19-storey building will deliver new office and retail space. It will include a canal side reception and use a ground and air source heat pump system.
3. Southwark Over-Station Development
Located above Southwark Tube station on the Jubilee line, the 17-storey hybrid timber building is set to be one of the greenest and healthiest large-scale commercial buildings in the UK.
It will provide a mixture of commercial office space and retail space and has external terraces on most floors
All three sites have received planning permission, or resolution to grant planning consent and have the potential to target BREEAM Outstanding.
Collectively, the three sites will provide almost 900 cycle spaces, which combined with their close proximity to the public transport network, will encourage those who occupy the buildings in the future to travel sustainably.
‘Best in class commercial office workspaces’
Scott Anderson, head of property development at TfL, commented: “We are delighted to be going to the property industry with this exciting opportunity and are looking for a partner to create best in class commercial office workspaces that will positively transform the capital and support its green recovery.
“This new investment and development partnership will form part of our wider commercial development programme, which seeks to build the homes and commercial spaces the city needs, while also generating vital revenue that reduces TfL’s reliance on fares income.”
This commercial office development JV forms part of TfL’s wider commercial development programme, which will see thousands of high-quality new homes built on its land across the capital – delivering 50% affordable housing on average across its entire portfolio.
