Major Southbank property estate put on the market for £280m
London’s flagship southbank estate has been put up for sale for £280m, City PM can reveal.
The 2.6 acre plot of mixed-use property site, which is best known for the South Bank Central’s iconic 155m tower, is being sold by CBRE on behalf of CPPIB and Hermes.
The estate, which covers roughly 263,000 square feet of commercial space and 191 luxury apartments, underwent a complete refurbishment in 2016 as part of a plan to make the complex a mix of retail, office and high-end living space.
The news comes less than a year after HB Reavis purchased Southbank’s Elizabeth House, adjacent to Waterloo station, with plans to deliver two new buildings reaching up to 29 storeys on the site.
Ed Bradley, senior director at CBRE London, said: “The Southbank has witnessed significant interest from global capital due to the very strong occupational story. It has seen some of the strongest rental growth over the last 15 years due to the large scale infrastructure projects and regeneration of the area.”