Description of 160 Blackfriars Road
160 Blackfriars Road is a planned mixed-use development in Southwark, London SE1.
The proposed development will create a 220-room hotel and commercial premises.
The existing building occupies a prominent 0.41-hectare site. The property was comprehensively refurbished in 2014, and provides 105,935 sq ft of office, and retail accommodation arranged over lower ground, ground and eight upper floors. The site also includes an underutilised surface car parking lot. It is situated between the growth areas of Waterloo and Elephant & Castle, in close proximity to Southwark Underground and Blackfriars Station.
2018 April - Planning application submitted for: Erection of a 10 storey building (40.23m AOD) with basement, comprising a 220 bedroom hotel with ancillary restaurant (Class C1); flexible office space (Class B1); retail units (Class A1/A3); creation of public space; landscaping and associated works. Works to the existing building at ground and roof levels (including a new rooftop terrace, enclosure and PV panels); elevational alteration; creation of a new entrance and the installation of an architectural feature along the Blackfriars Road elevation. Southwark Council ref. no. 18/AP/1215.
2016 September - Endurance Land and funds of Angelo, Gordon & Co acquire 160 Blackfriars Road, London SE1 from UBS. The transaction reflects a price of £61.845m (590/sq ft), a net initial yield of approximately 5.61% on passing rents and a reversionary yield of circa 8%. The property is currently fully let, primarily to Thomson Reuters off a low rent of circa £35.00 per sq ft with the most recent letting in the building at £57.50 per sq ft. Cushman & Wakefield represented Endurance Land and Angelo, Gordon & Co. Knight Frank and Tudor Toone acted for the vendor.