Barings and LBS Properties have appointed Kier to deliver the £69m sustainable commercial 135 Park Street development in Southwark.

The new 12-storey, 148,486 sq. ft building will comprise 131,900 sq. ft of office space, 12,900 sq. ft of affordable workspace, and a further 1,500 sq. ft of retail space. It is ideally situated near Shakespeare’s Globe Theatre and the Tate Modern, and the development extends the cultural regeneration of Bankside eastwards.

Ian Mayhew, Managing Director, UK Asset Management at Barings, commented: “135 Park Street is a net zero carbon development, both embodied and in operation and, combined with its generous amenities, we are providing just the sort of workspace that forward-thinking occupiers require.”

Nick Crawford, CEO of LBS, added: “We are delighted to have appointed Kier as main contractor to deliver this best in class, highly-sustainable office building in one of London’s most attractive submarkets. 135 Park Street will set a new benchmark for the London office market, with the occupier at the centre of every decision from concept to completion.”

David McKenzie, Managing Director for London, South & Strategic Projects, Kier, said: “We are delighted to be awarded such a high-profile development, adding to our portfolio in London and supporting Bankside’s cultural regeneration.