Home Building services news Stanhope JV acquires £450m stalled Bankside office project in London

Stanhope JV acquires £450m stalled Bankside office project in London

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The £450m Row One development, designed by Danish architects BIG, is set to rise on the former Red Lion Court site beside the old FT headquarters along the Thames. Reports Contract Journal

The site has already been cleared by Erith on behalf of previous owner Landsec, with planning secured for 250,000 sq ft of next-generation office and retail space.

Enabling works are due to start shortly, ahead of a two-year main build programme. Mace had previously been lined up for the £200m construction contract before Landsec put the scheme on hold.

The 11-storey tower will provide 235,000 sq ft of flexible workspace and 15,000 sq ft of retail and F&B space, complemented by 18 riverside terraces, wellness amenities, 724 cycle spaces and 54 showers.

Targeting the highest sustainability standards, the all-electric building is designed to achieve NABERS 5*, WELL Platinum, and BREEAM Outstanding ratings, with Stanhope overseeing delivery.

Stanhope’s Joe Binns described the deal as a rare opportunity to bring forward a “de-risked, best-in-class” South Bank project at a time when Grade A supply is tightening.

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