Three £1bn towers to be built at Blackfriars London

Three new towers will be added to the London skyline following approval of a major mixed-use development valued at more than £1 billion. 

Global real estate investor Hines has secured permission to construct two residential high-rises of 40 and 22 storeys and an office building standing 45 storeys tall at Bankside in the capital. 

The landmark 18 Blackfriars Road development, secured alongside architects Foster + Partners and property developer Lipton Rogers, will see new life breathed into a two-acre brownfield site that has remained undeveloped for 20 years. 

The scheme is designed to be fossil fuel free, 100 per cent electric and net zero carbon in operation, with 95 per cent of the site heat demand served by ground source heat pumps. 

Spanning more than 1 million sq.ft. across its entire footprint, 18 Blackfriars Road will see more than 400 new homes built, with 40 per cent being ‘London affordable’, alongside 800,000 sq.ft. of office space. 

Plans, approved by Southwark Council, also include 20,000 sq.ft. of affordable workspace for local and socially minded enterprises, assembly rooms for the community, educational space with links to local institutions, children’s play areas and retail and food outlets. 

Hines, backed by the National Pension Service of Korea, is understood to begin the four-year construction programme in 2024. 

Ross Blair, senior managing director and country head of Hines UK, said: “Our plans will transform an undeveloped piece of land, most of which has lain empty for over 20 years, into much needed new homes and first class, sustainable and tech-enabled offices, built around a central hub which we hope will become a brand new convening space for the local community. 

“Businesses of all sizes and from all sectors are demanding more from their offices because their employees are demanding more from them. 18 Blackfriars is all about rising to that challenge and delivering the office of the future. 

“We believe our plans for 18 Blackfriars will set a new standard in premium quality workspace in London, both fully integrated into its hyper-local community and seated right at the heart of our capital city. Bringing this scheme to life underlines our long-term conviction in London as a thriving, global centre for culture, education and business.” 

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