Developers are lining up to bid for a Sainsbury’s site in Southwark, south London, after the retailer decided to sell the site.
Sainsbury’s has instructed agent Jones Lang LaSalle to look for developers to buy the land at 10 Blackfriars Road, just south of the River Thames.
The agent has given presentations to at least seven developers, thought to include Stanhope, Land Securities, British Land and Development Securities.
The move raises a question mark over Stanhope’s plans to build a 35,500 m2 Foster and Partners office scheme planned on the site.
The scheme was to have had five storeys and a 19-storey tower at its north end, but the new owner could decide to revise this.
Any future development on the site would have to use a similar design to maximise the use of space while adhering to height restrictions.