Qatari Diar and Canary Wharf Group (CWG) have secured a £183m construction loan from Barclays and Standard Chartered for the final phase of Southbank Place development.

The new 13-storey building at 7 Belvedere Road will add 92 apartments and an additional 18,600 square feet of retail space to the prime location.

The mixed-used Southbank Place development is prominently located behind the London Eye on the River Thames.

This last phase at 7 Belvedere Road is set to consolidate Southbank Place as a notable and dynamic destination in London, further enhancing the capital's vibrant cityscape.

Tariq Al Abdulla, Chief Development & Project Delivery Officer (Europe & America) at Qatari Diar, commented: “Securing the construction loan for the final development phase at Southbank Place is a milestone we are extremely proud of. Through the strength of the project we have been successful in achieving the financing that will drive the completion of Southbank Place and cement it as one of London’s most desirable addresses.  

Rebecca Worthington, CFO, Canary Wharf Group, added: “Southbank Place is an important scheme for us and our joint-venture with Qatari Diar has so far resulted in high quality, amenity rich buildings that serve the requirements of buyers in the South Bank. We worked closely with Barclays and Standard Chartered, two of our strongest relationship lenders, to make this financing deal happen at 7 Belvedere Road.

Interested buyers should now register interest in the new homes at southbank-place.com.