The development will introduce a curvilinear building form to unify three existing buildings on the site, bring cohesiveness to the scheme and create a new public realm linking Bermondsey to the river.
The scheme, a joint venture between First Base and global private investment group Starwood Capital, will transform the 185,000 sq ft site at 151 -157 Tower Bridge Road, delivering 69 new homes of mixed tenure, 137 for apart-hotel, cafes and restaurants and co-working space around a new public square.
Barry Jessup, Director at First Base, said:
"This is an exciting opportunity to revitalise an under-utilised site in one of London’s most dynamic neighbourhoods. Our scheme will deliver much needed new homes in a community setting, with a mix of cafes, restaurants and workspace that respond to the needs of local businesses and residents. It will also re-establish pedestrian routes from Bermondsey to the river, helping to extend this vibrancy of Bermondsey High Street south. We look forward to working with Southwark Council to bring forward our plans."
Earle Arney, Chief Executive of Arney Fender Katsalidis, said:
"We are delighted with our collaboration with First Base and Starwood Capital and the design vision we created with the London Borough of Southwark. 151-157 Tower Bridge Road is a project of civic repair at both the architectural and urban scale. Existing structures are adaptively reused, delivering much-needed housing for Londoners in a significantly reduced time period, while also enhancing the environmental sustainability of the development.
He added: "The development will open previously blocked walking routes across the site and establish for the borough the potential of a green pedestrian spine linking St Mary Magdalen Churchyard Gardens to City Hall. We look forward to breathing new life into these neglected buildings and refreshing this part of Bermondsey with new public spaces and transformative pedestrian through-routes."