Housebuilder poaches site of Ian Simpson-designed scheme from administrator

Housebuilder Berkeley Group has bought the site of the 52-storey Beetham Tower development in Southwark from the administrator, according to reports.

Berkeley’s St George subsidiary has made the purchase of the One Blackfriars site, for a sum thought to be in the region of £85m, Building’s sister title Property Week reported this morning.

It said the developer exchanged contracts on Wednesday and plans to build out the Ian Simpson Architects-designed scheme largely as currently designed.

The scheme has a consent for 85 luxury apartments and a 261-bedroom hotel. Berkeley is understood to have pipped rival developers Essential Land, Stanhope, Irvine Sellar and a joint venture between Godfrey Bradman and British Land to the purchase.