We're pleased to announce that Triangle London Developments (TLD), a consortium of Notting Hill Housing and U+I, has been chosen by TfL as the preferred bidder for a joint venture to deliver a mixed-used development on its Landmark Court site in Southwark.
A perfect fit for U+I, playing to our strengths as a public-sector partner and a mixed-use regeneration specialist, the partnership plans to transform the site, which has lain derelict for 25 years, into a thriving cultural, social and economic hub which people will want to live in, work in and visit.
Development proposals will focus on improving pedestrian routes in the area while securing income to reinvest in transport. The regeneration of the site will create a new £200 million mixed-use development including approximately 80 new homes –35 per cent of which will be affordable – as well as around 130,000 sq ft of new commercial, retail and workspace.
Our ambition will be to breathe new life into the area – providing a vital boost to the growing social and commercial activity on Southwark Street - as well as revitalising a valuable public asset and bringing it back into use.
Adjoining the site is the Cross Bones Graveyard, a medieval memorial graveyard for prostitutes and paupers. U+I believes heritage is essential to creating a sense of place. We're therefore committed to preserving the site, with a view to providing a memorial garden, public art installations and improved public access for the thousands of people who visit the graveyard every year.
Richard Upton, Deputy Chief Executive for U+I said: "There is huge opportunity to create something very special here that really adds to and complements the fabric of the neighbourhood. Working with the local community and Southwark Council we will bring forward plans that celebrate the identity of this place, respects the history of the site, and creates a vibrant future."
In February we announced that U+I and Notting Hill Housing Group had been named as the preferred bidder for a TfL-owned site in Kidbrooke - the first site to be awarded through TfL's Property Partnerships Framework. Landmark Court site in Southwark is only the second project that TfL has announced and we're delighted to be successful once again and given another exciting opportunity to work with TfL to deliver something special for London.
This latest announcement adds to our extensive experience of PPP regeneration projects and also reinforces our relationship working with TfL in Southwark, adding to our current portfolio of existing joint projects in the area that includes Algarve House. It also follows a bumper year where we added over £1.5bn of GDV to our pipeline and won four other major public private partnerships.
