International consortium buys up London South Bank scheme for £308m
A consortium of British and international investors has bought up a £1bn office and residential development on London’s South Bank for £308m.
UK’s Native Land, Singaporean sovereign wealth fund Temasek, Hotel Properties, run by the Singaporean family behind British handbag-maker Mulberry and Malaysia’s Amcorp Properties, have agreed to buy the site from Carlyle, the private equity firm said today.
The proposed Bankside Quarter, between Blackfriars Bridge and the Tate Modern, already has planning permission for nine buildings made up of 494 homes, shops and offices.
Ludgate House, the former headquarters of publishing group UBM, and Sampson House, will be both be demolished.