TfL today announced Triangle London Developments (TLD) as its preferred bidder for a joint venture to deliver a mixed-used development on its Landmark Court site on Southwark Street, south London.
Triangle London Developments is a consortium of U+I and Notting Hill Housing and is one of the partners on the TfL Property Partnership Framework.
Landmark Court is within walking distance of London Bridge station, Borough Market, the Tate Modern and the Globe Theatre.
The partnership plans to transform the site from an under-utilised space to a local cultural and social hub where people will want to live, work and visit.
The site has the potential to deliver about 130,000 sq ft of new commercial, retail and workspace, boosting the growing social and commercial activity on Southwark Street.
Approximately 80 new homes will be built, at least 35% of which will be affordable. It is one of the first five sites fast-tracked for development by the Mayor, which overall comprise 50% affordable housing.
Any proposals will seek to maximise outdoor public space, improve walking routes on Southwark Street, Redcross Way, Borough High Street and provide access to the increasingly popular walkway along the Low Line.
The Cross Bones Graveyard, a historic graveyard for prostitutes and paupers, adjoining the site, will be safeguarded, with a view to support a high-quality memorial garden.
Subject to contracts and agreements, the joint venture will consult with Londoners to develop a detailed design in order to seek planning permission and to start on site in 2019, aiming for completion by 2022.
Graeme Craig, Director of Commercial Development at TfL said: 'We are working with some of the best organisations across London to bring forward a portfolio of sites that will help to create the homes, jobs and work spaces London needs for the future.
'We look forward to establishing a long-term, joint venture partnership with Triangle London Developments to contribute to the Bankside neighbourhood, which has been known for centuries as a hotbed for London's creativity and independent businesses.
'The development at Landmark Court will also provide vital revenue to invest in London's transport network.'
Richard Upton, Deputy Chief Executive at U+I said: 'We are privileged to have been selected to regenerate Landmark Court. This is an important site for the neighbourhood and an important site for London, steeped in history and at the heart of our ever-changing city.
'There is huge opportunity to create something very special here that really adds to and compliments the fabric of the neighbourhood.
'We are looking forward to working with the local community and Southwark Council to bring forward plans that celebrate the identity of this place, respects the history of the site, and creates a vibrant future.'
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