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HB Reavis has secured planning permission for its 1.2 million sq ft redevelopment scheme in Waterloo, London, with construction set to begin next year.
According to the plans, the developer intends to replace the current 1960s office building Elizabeth House with a tower offering 1.2 million sq ft of workspace and a large surrounding public area, including a one-acre garden promenade connected to Waterloo station and a new pedestrianised street lined with retail and dining units. Overall, the new scheme will support 11,000 jobs and unlock £100 million of public benefits.
Development director at HB Reavis, Kiran Power, said: “We are all delighted to have secured a resolution to grant planning consent from Lambeth Council for the redevelopment of Elizabeth House in Waterloo and the £100 million package of public benefits that it will bring, including the provision of affordable workspace and major public realm improvements around Waterloo Station. We now look forward to starting construction work in 2020.”
The build is expected to take four to five years.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.