Up to four developers, including Amec and London & Amsterdam, are understood to have already contacted the council about bidding for the project. Submissions of interest in the scheme are expected by 26 April, with a winner to be selected by the end of the year.
It is understood that Amec’s initial plans for the site failed after negotiations last year. Amec wanted to buy some of the land from one of the site’s owners, Foreign Property APS, but the Danish investment company would not sell its share.
Southwark council owns 2.6 ha of the land, and a joint venture between developer Slough Estates and supermarket giant Tesco owns a third slice of the land.
We are hoping that all parties come to the table and find a way forward
Stephen Platts, Southwark council
Foreign Property APS has since complicated the future of the land by appointing architect Hodder Associates to draw up a masterplan for the whole site. Under Southwark’s proposals, the successful bidder would appoint its own masterplanner.
However, the council believes a compromise can be reached. Southwark development and regeneration manager Stephen Platts said: “We are hoping that all parties come to the table and find a way forward.”
Platts added that the decision on the mixture of uses for the scheme will be “market-led” when an outline planning application is submitted in mid-2003.