£500m mixed-use Embankment scheme to create over 1,000 new jobs
Regeneration developer U+I has announced that Lambeth Planning Committee has resolved to grant planning permission for a £500m mixed-use scheme in London.
The firm’s residential, commercial, leisure and public sector development at 8 Albert Embankment is expected to create over 1,000 new jobs.
A joint venture with London Fire Commissioner, the development will deliver 145,000 sq ft of office, hotel and retail space, as well as 443 new homes, a fire station and museum.
Subject to procedural and judicial process, the development is scheduled to begin in 2021, with completion expected by 2025.
Richard Upton, chief development officer at U+I, commented: “This publicly owned asset is one of too many that have sat redundant for too long. Our unique partnership with London Fire Brigade will breathe life and productivity to this heritage site on the River Thames.
“With more than 1,000 new jobs, a reprovisioned fire station, a fire museum and 40 per cent affordable housing our proposals will deliver huge social and economic growth for London.
“We have designed a world class regeneration project at 8 Albert Embankment and now we can deliver it.”
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