It has been announced today that HB Reavis have plans to replace Elizabeth House on South Bank with a skyscraper. The plans, which will replace the building built in the sixties, will cost around £1.5 billion and will feature a mixture of public areas and office space spanning 1 million square feet.
Should planning permission be granted, HB Reavis, property developers from Slovakia will demolish the current structure completely. In its place will be a multi-use tower block that they estimate will create around 12,000 new jobs. They have owned the building since 2017, where plans where initially to develop it into residential space. Seemingly, their plans have changed, and they now intend to develop it into office space, with plans to resubmit new proposals to Lambeth Council.
The New Skyscraper
The new building will be positioned between Waterloo Station and South Bank, standing at 30 storeys tall. It is thought that there will be different floors dedicated to different uses so that the building encourages a diverse mixture of tenants to lease space there.
They also want to enhance the publicly accessible areas by creating a new pedestrian street and public square. They plan to open Waterloo Curve – a new street that offers a range of cafes and retail outlets. There will also be Victory Arch Square – designed to link the South Bank to Waterloo Station.
The Design of The Building
There has been much thought put into the design of the building, put together by Allford Hall Monaghan Morris Architects. Features include public gardens which will be found on the second floor. Depending on approval, they hope to start construction at the start of 2020 and estimate it will take around 5 years to be fully completed.
The development director for the UK branch of HB Reavis, Kiran Pawar, has talked about their excitement at being able to be involved in the development of this site. It has been a long time coming, as Elizabeth House has been earmarked to be regenerated for some time. Despite being purchased for £250 million, the building is currently not very well-liked by local residents and workers for being very dull in appearance. Many people will be hoping that this transformation helps to improve the look of the building - no doubt something HB Reavis will be hoping to do too!