24   November,   2021

Refurbishment of Southwark Street scheme gets green light from Southwark Council

DTZ Investors has received planning permission for an substantial £16 million refurbishment project of Bankside House, 76-80 Southwark Street. The extensive redevelopment plans incorporate rich redeveloped designs of the interior and exterior of the building, alongside robust sustainability and ESG driven targets.

Situated along the South Bank, Bankside House is in close proximity to the Tate Modern and London's famous Borough Market, with good transport links from nearby stations; Southwark, London Bridge, and London Cannon Street.

Set across six storeys and a lower ground floor, the new scheme, designed by Owers Warwick Architects includes an extension of the existing building to deliver 43,000 sq ft of high-quality CAT A office space with a new façade and improved views out. 

A strong emphasis has been placed on ESG targets within the project and we are aiming for a BREEAM 'Excellent' rating. Cogent will oversee the project to ensure refurbishment stays on track and will incorporate DTZ Investors’ responsible investment practices and commitment to transitioning all of our assets to Net Zero by 2040.

Our contractors will upgrade the original fabric and retain much of the existing structure to reduce our carbon footprint from embodied energy emissions associated with the production of new building materials. In addition, new energy services will be more efficient to drive down operational carbon. Finally, contractors will install solar PV panels and eliminate fossil fuel usage on site. 

Through the new scheme, DTZ Investors seeks to improve the property's interior by remodelling the building to provide flexible floor plates, each with level access.  This forward-thinking approach to redevelopment will ensure the office space meets the needs of today's and tomorrow's occupiers, helping to safeguard our investor's assets. In addition, potential occupiers will have the opportunity to lease Bankside House as a single occupant or floor by floor. The finished scheme is expected to be delivered to the market in 2023.

The environmental and wellness aims of refurbishment will be further supported by the building and facility upgrades, including the installation of large glass windows to vastly improve the amount of natural lighting entering the building, visible enhancements to the reception area on the ground floor with the potential to have a separate individual entrance to the ground and lower ground suite, external terrace areas on both the 5th and 6th floors, and finally new extensive and secure cycle store provision with lockers and showers.  

Tom Royston, Director, DTZ Investors, commented: "We are delighted that Southwark Council approved this proposal. We wanted the structural design to create a flexible office space to attract a diverse mix of potential tenants whilst future proofing this asset for investors. We think we have achieved this through our carefully planned designs and proposals for Bankside House. 

DTZ Investors were advised by Avison Young.

For more information please contact Tom Royston, or leasing agents Bluebook and Union Street Partners.