Triangle London Developments is a consortium of U+I and Notting Hill Housing and is one of the partners on the TfL property partnership framework.
TfL acquired the Landmark Court site, next to Borough Market, more than 25 years ago for the construction of the Jubilee line extension. Since then, it has either been used for operational rail purposes or has been occupied by commercial tenants.
The new partnership plans to transform the triangular site into a ‘cultural and social hub where people will want to live, work and visit’.
TfL says that the site has the potential to deliver 12,000 m2 of new commercial, retail and office space. Approximately 80 new homes will be built, at least 35% of which will be affordable. It is one of the first five sites fast-tracked for development by the mayor.
Subject to contracts and agreements, the joint venture will develop a detailed design to submit for planning permission and look to start on site in 2019, completing by 2022.
Graeme Craig, director of commercial development at TfL said: “We are working with some of the best organisations across London to bring forward a portfolio of sites that will help to create the homes, jobs and work spaces London needs for the future. We look forward to establishing a long-term, joint venture partnership with Triangle London Developments to contribute to the Bankside neighbourhood, which has been known for centuries as a hotbed for London's creativity and independent businesses.”
U+I deputy chief executive Richard Upton said: “We are privileged to have been selected to regenerate Landmark Court. This is an important site for the neighbourhood and an important site for London, steeped in history and at the heart of our ever-changing city. There is huge opportunity to create something very special here that really adds to and compliments the fabric of the neighbourhood.”