Carlyle Group plans London regeneration

Private equity firm Carlyle Group is to submit plans for a 425,000m² residential and office led mixed-use development in London.

The development, which aims to create a new urban town centre on the south of the River Thames between South Bank and Bankside, will provide 492 new homes.

The site has been identified as an opportunity area in the Mayor of London’s London Plan. Carlyle’s development plan includes 286,000m² of residential space, 137,000m² of new offices, 10,700m² of new public open spaces, 7,600m² of retail and 5,600m² for cultural use.

PLP Architecture designed the new urban quarter, which will comprise nine new buildings of between five and 48 storeys in height and open up the arches under the railway viaduct to create pedestrian access and additional cultural, retail and restaurant space.

The site will create 750 jobs during the construction stage and 3,700 permanent jobs on completion.

The project will be delivered in phases and is scheduled for completion between 2020 and 2023.