Green light for £1bn Blackfriars scheme

 
Kasmira Jefford
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PLANS to build nine buildings on the South Bank of the Thames, including a 49-storey residential tower, have won approval from Southwark Council.

US private equity giant Carlyle plans to replace IBM’s Sampson House and Ludgate House – media group UBM’s headquarters – with a £1bn-plus residential, office and retail development spanning 1.4m square feet.

The tallest tower will stand next to the Berkeley Group’s One Blackfriars development, creating a gateway on the south side of Blackfriars Bridge, connecting the City and Southwark.

The Lee Polisano-designed scheme, due to be completed by 2023, will include 750 new homes – of which 260 will be affordable – and a large 16,250 sq ft public square bordered by retail, leisure and cultural space in the lower floors of the new buildings.