Helical to start on student residential block above Southwark tube station by next summer

Helical has said it expects to start by next summer on work to build a new student residential block above Southwark tube station.

The scheme will see a 15-storey building built on top of the tube station which was built in 1999 and given a grade II listing earlier this month.

The block will include 429 flats while an adjacent 14-storey council housing block will include 44 homes for Southwark council.

The scheme is being developed by Helical and joint venture partner, Transport for London’s development arm Places for London.

In its interim results this morning, Helical said it expected a start on the job in H1 next year with completion slated for 2029.

No announcement on who will build the scheme has been made but Mace is understood to be favourite for the work while the same contractor will start by the summer on another overstation job for Helical, a £200m deal at Paddington.

Meanwhile, Mace’s £50m scheme at New Bridge Street will finish next April while two McLaren jobs – Brettenham House and Bank Overstation, both worth around £100m - are due to finish next summer and the end of next year respectively.

Helical chief executive chief executive Matthew Bonning-Snook reiterated comments made in a trading update last month, saying office lettings are on the rise with increased interest in the London office market from overseas investors.