Nine Elms on the South Bank: Progress Report

Nine Elms on the South Bank is at MIPIM – visit the model in the London Pavilion   With 26 development sites under construction or in the planning pipeline, Nine Elms on the South Bank is the UK’s biggest regeneration programme:   ·         £1 billion Northern line extension financing guarantee from the UK Government   ·         16,000 new homes with planning consent   ·         6.4million sq ft commercial space with planning consent   ·         Five major projects now under construction – including the first 3,000 homes   Nine Elms on the South Bank is the £1 5billion opportunity area between Lambeth Bridge and Chelsea Bridge including Vauxhall town centre, the new US Embassy and Battersea Power Station; the largest regeneration project in Europe.   In the last year Battersea Power Station has been sold, sales have been begun and construction is imminent. Embassy Gardens has become the best-selling London residential development of 2012 and Riverlight has cemented its position as the first residential development to be marketed and will be the first development that new residents of Nine Elms will move into.   The UK government has confirmed its support for the extension to the Northern Line of the London Underground. This will see the area privately finance the major infrastructure development; a truly innovative planning package.   On the commercial side of the Nine Elms development both New Covent Garden Market Authority and Sainsbury’s house announced development partners to deliver the residential elements of their sites; St Modwen & VINCI and Barratts respectively. In both cases the use of residential development to fund exceptional commercial developments for the fruit, vegetable and flower market and the delivery of a state of the art superstore are testament to the forward-thinking of the area.   Helen Fisher commented, “The pace of development at Nine Elms of the South Bank is truly breathtaking. We have some of the world’s most well respected architects delivering exceptional new buildings that work together to create a completely new central London district. Add in the infrastructure changes and you have the greatest transformational story for central London.”