Native Land has instructed McGee to carry out the structural demolition of Ludgate House.
Worth circa £4.2m for the demolition phase of works, this is another major contract win for McGee.
Initial demolition works on select areas of the site were completed in October 2016 as part of a scope of enabling works. McGee is now back on site as the appointed Principal Contractor to carry out the deconstruction and demolition works of the existing 173,633 sqft, 10-storey 1980’s commercial building.
Following the erection of the site’s tower crane in July, scaffolding around the perimeter of the site is now well advanced and internal soft strip works and removal of waste materials is ongoing. McGee is now preparing to begin the structural demolition works in September and expects to complete these works in March 2018.
McGee’s highly experienced and knowledgeable team is also currently giving advice on a follow-on enabling package of specialist ground works.
Nick Taylor, Director at McGee, commented:
“This is a high profile site nestled between Blackfriars Station, the Thameslink viaduct and Blackfriars Road red route and it has taken a great deal of planning and coordination with investment partner and development manager Native Land and the project team, NWR, TfL, Southwark Council and our supply chain to get things to where we could complete all required planning stages and agree the logistics for the project, and finally commence on site.
“We have been involved with Native Land in this planning process from an early stage and this is a great example of early engagement between client and contractor.”
Jay Squier, Development Director at Native Land, added:
“We are excited to work with McGee to commence works on this landmark riverside development, which marks a significant step in the ongoing enhancement of the Bankside area.”
Ludgate House and Sampson House together form a 1.4m sqft redevelopment project by an international consortium comprising, Temasek, HPL and Amcorp Properties, with Native Land acting as investment partner and development manager to the consortium. The commencement of the structural demolition works signifies a crucial step for the project.
The scheme will create a destination neighbourhood comprising cultural, retail and leisure amenities as well as new office space and housing which will be linked by extensive public open spaces. It will reconnect the space between the Tate Modern and one of London’s major transport hubs, Blackfriars Station. The London Borough of Southwark will also benefit from a substantial contribution towards further housing within the Borough.
See also Bankside Yard on Buildington.
03/09/2017 16:24 by Buildington
An international consortium, comprising the UK’s Native Land, Singapore’s Temasek and Hotel Properties Limited (HPL), and Malaysia’s Amcorp Properties, has announced the formation of a joint venture, which has exchanged contracts to acquire Sampson House and Ludgate House from global alternative asset manager The Carlyle Group (NASDAQ: CG), for £308 million. The Carlyle Group managed the asset on behalf of its third European fund CEREPIII.
The transaction will result in the creation of the new Bankside Quarter, a 1.4 million sq ft residential, office and retail development, which will further enhance an area undergoing a transformation through a raft of other improvements.
The expanded Tate Modern, the new Blackfriars Station linking the north and south bank of the River Thames and the recently opened Mondrian hotel have already combined to make the area a vibrant new London location.
A planning consent for the redevelopment of the 5.3 acre site, designed by PLP Architecture, was secured by Carlyle in March 2014 and comprises permission for 489 apartments and 288,000 sq ft of offices, as well as retail, leisure and cultural facilities. When completed, the project will comprise five residential buildings and four office buildings.
The development will rise from 13 to 49 storeys and will create new routes reconnecting the eastern and western sides of a railway viaduct where the existing buildings have formed an impermeable barrier through the site since the 1970s.
The planning consent also ensures a payment in lieu of affordable housing of £65 million payable to Southwark Council.
Native Land is appointed as development manager to the consortium.
Alasdair Nicholls, Chief Executive of Native Land, commented on behalf of the consortium: “The development of the Bankside Quarter will set the seal on London’s finest emerging location. By unblocking routes through this strategically important site as well as significantly enhancing the public realm the area will become even more popular for residents, businesses and visitors from across the globe.
“The project will also deliver much needed private and affordable housing in the borough, where there is a shortage of supply.
“The consortium which has been assembled to deliver the project represents the best in international development and funding expertise. We are confident that we can deliver a major new destination for London, adding to the strong foundations already laid in the Bankside area.”
Mark Harris, Managing Director at The Carlyle Group, commented: “Since acquiring these two properties in 2010 Carlyle has successfully laid the foundations for the transformation of this important part of the South Bank area, creating a project which offers a once in a lifetime chance to regenerate a prime, central London site and create a new community while transforming one of London’s most popular riverbank locations. Through forward planning and by utilising our strong asset management capabilities, the team at Carlyle was able to create a new vision for a distressed site which we will now look forward to watching Native Land deliver.
“Ludgate House and Sampson House are the last two properties from the WhiteTower portfolio of six assets we acquired in 2010 and this transaction marks the conclusion of what has been a very successful investment on behalf of our investors.”
Native Land intends to deliver the project in a series of phases, with the first phase including a 49-storey tower comprising 211 apartments fronting the River Thames. The subsequent phase will deliver a Grade A office building, with later phases including the redevelopment of Sampson House, which is currently leased to IBM until 2025 but with a mutual break option in June 2018.
The development’s three tallest towers are designed by PLP as a “family of forms”, with masonry of a warm colour borrowed from adjacent existing buildings and ensuring that the development relates to its surroundings and the river Thames.
The overall site has been identified as an `opportunity area’ in the Mayor of London’s London Plan, and is immediately adjacent to Blackfriars Station’s southern entrance. It also benefits from excellent links to the City of London, the West End, Canary Wharf and the capital’s international transport destinations.
Source. Carlyle Group 30. March 2015
31/03/2015 15:40 by Buildington
UBM will move out of Ludgate House in 2015 http://www.thisislondon.co.uk/standard-business/article-24029635-major-grey-lubyanka-tenant-ubm-moves-out.do
21/01/2012 23:57 by Buildington
21/11/2011 19:43 by Buildington