Developer signs up to overhaul site next to major London rail terminal

Elizabeth House, Waterloo

HB Reavis has acquired Elizabeth House, a site near London’s South Bank known as One Waterloo, from developers London & Regional and Chelsfield, for an undisclosed sum.

The firm’s fourth scheme in the capital, Elizabeth House has been earmarked for redevelopment for more than a decade, and David Chipperfield-designed major office plans (pictured) were waved through in a High Court ruling three years ago. It has planning permission for two new buildings and public realm.

The proposed new development comprises a 29-storey building to the north, providing offices and residential units, with a 10-storey building to the south providing office and retail space. The scheme will deliver 945,000ft² of development, including 753,000ft² of commercial floorspace, 142 homes and public space totalling 192,000ft².

Tomas Jurdak, HB Reavis UK’s chief executive, said: “We’re excited to add Elizabeth House to our portfolio. The development provides a unique opportunity for us to deliver a building that will transform the area.”