Plans have been submitted to the site known as 18 Blackfriars Road, which compromises of land bound by Paris Garden, Stamford Street, Blackfriars Road, and Christ Church Gardens (otherwise referred to as ‘18 Blackfriars Road’ or the ‘Site’). The Site includes 1 Stamford Street and 3 – 7 Stamford Street (also known as the Mad Hatter Public House and Hotel) which comprise two Grade II Listed buildings.
The Site has a Public Transport Access Level (PTAL) Rating of 6b (the ‘best’ public transport
accessibility level) and is located within Flood Zones 2 and 3 (benefitting from Flood Defences).
Project team
The applicant is Black Pearl Limited (the ‘Applicant’), the freehold of the site and a company that is owned by an investment fund controlled by Hines.
Hines has also been appointed as the Development Manager and Asset Manager for the Proposed Development, and it is intended Hines will also carry out ongoing property management on behalf of the fund.
Alongside the appointed architects for the scheme Foster & Partners and a variety of highly experienced professionals across all disciplines, the scheme also includes Lipton Rogers Developments, who bring further design and delivery experience to the project.
Scheme details
The scheme would entail the construction of two residential towers at 22 and 40 floors above a podium, an office building above a podium, as well as improvements to the Mad Hatter and landscaping at ground and podium levels, as well as a separate office tower at 45 floors above a separate podium building, delivering over 100,000 sqm of new office accommodation.
Housing specifics
Within the residential offering, the scheme would deliver 433 new homes, with a residential population estimate of around 950, and generate £1.47m of Council Tax and up to £870,000 new homes bonus for the borough.
The proposals would deliver 40.5% affordable housing, equivalent to 104 social rent and 56 discount market-rent
homes on-site, making a significant contribution toward the borough’s housing needs and housing 290 people in immediate housing need.
Economic and community benefits
It is speculated that the long-term job creation and other benefits of up to 6,160 employees will generate over £18m of spending each year and up to £17.64m of business rates.
This includes the 2,421 sqm (GIA) of space that will be let at a peppercorn rent for at least 30 years for qualifying businesses as part of a future Affordable Workspace Strategy.
A substantial Section 106 package and Community Infrastructure Levy payment in excess of £50 million and a carbon Off-setting Contribution of £1,589,255 towards the off-setting on local projects in Southwark.
Public space and landscaping
A new children’s playspace is of 320sqm playspace at the ground will be provided on-site which will be fully accessible to the public.
The proposals are also set to deliver significant biodiversity enhancements through the delivery of a new public realm and the provision of a new public park, together with extensive tree planting and greening throughout, a Biodiversity Net Gain of 152.4% on-site.
