HB REAVIS CONFIRMED AS SUCCESSFUL PURCHASER OF ELIZABETH HOUSE, LONDON SE1
L&R and Chelsfield confirmed this afternoon that international real estate developer, HB Reavis, is the successful purchaser of Elizabeth House on London’s Southbank.
The site, which lies immediately adjacent to Waterloo Station, the UK’s busiest transport hub, has detailed planning consent to deliver a major, 1.4m sq ft gross, mixed-use scheme that is anticipated to transform this highly accessible part of London’s Southbank.
The scheme, designed by Sir David Chipperfield Architects and SOM, will deliver two new landmark buildings reaching up to 29 storeys.
Comprising 753,000 sq ft of net office accommodation, making this one of London’s largest office development transactions in recent years, the scheme also includes 192,000 sq ft net of residential accommodation, retail space, and two major new areas of public space.
Robert Burrow, CEO and Co-Chairman of Chelsfield said “Since the acquisition of Elizabeth House in 2010 our teams have worked hard to add significant value to site through achieving planning consent for a truly world-class mixed-use scheme”.
Leonard Sebastian, Group Managing Director of L&R added “Elizabeth House is a high quality asset in an exciting location, and we have no doubt that HB Reavis will have great success in taking the project forward”.
The redevelopment of Elizabeth House is particular exciting, as it represents a key milestone in the transformation of the Waterloo sub-market, both due to the site’s scale and its strategic location, lying directly between Canary Wharf Group’s and Qatari Diar’s Southbank Place development, and Network Rail’s and LCR’s remodeling of Waterloo Station, both of which are already well underway