Triangle London Developments was chosen by the Transport for London for a collaboration between them to build in the Southwark Street. All the homes, offices and retail spaces will be made by them, on the behalf of TFL, this joint venture will benefit both the entities and the public of London.
This new construction will be up for multi purposes. It will be made on Landmark Court, a plot of land owned by TfL for the last 25 years. This land was previously taken for the extension of the Jubilee Line. This land is in an ideal location with London Bridge station, Borough Market, the Tate Modern and the Globe Theatre around it. The new construction, once finished, will offer a total of 80 homes, half of which will be in very reasonable prices.
The space for the commercial use, retailers and workplaces will be around 130,000 sqft in total. The claim is that this new collaboration will be able to make things easier and safer for the public of London. Borough High Street, Redcross Way and Southwark Street will be offering improved walking routes and maximized outdoor paths without damaging the historic sites located nearby, Cross Bones Graveyard to name one.
This joint venture will hopefully be completed before the end of 2022 and the parties are excited about starting the work on site by 2019 once they are done with the paperwork.
“We promise London the best homes, jobs and commercially equipped site that is for the best interest of the public and is the dire need of time in the developmental zone. For this, we are striving to acquire the best portfolios and profiles of the organizations that can do wonders across London” said by Graeme Craig, Director of Commercial Development at TfL.
“This joint venture with the Triangle London Developments will be just another addition in the creativity of the London’s independent businesses. This will be a main source provider for the Bankside neighborhood. We hope to have a strong, beneficial for all and long-term partnership collaboration. This would formulate a major revenue system for the London’s transport network”.
Richard Upton, Deputy Chief Executive at U+I, real este developers and specialists in property regeneration said: “This is a very important piece of land with all the significant sites around it. We are humble and fortunate to have been selected to partner such a big future venture with the Transport for London.”