Hermes Investment Management, the £29.5 billion manager focused on delivering superior, sustainable, risk adjusted returns to its clients – responsibly, and Canada Pension Plan Investment Board (CPPIB), a professional investment management organisation that invests on behalf of 18 million Canada Pension Plan contributors and beneficiaries, have been given the green light by Southwark Council for the commercial elements of South Bank Central.
Hermes Investment Management and CPPIB will improve the quality and visibility of South Bank Central’s entrances and upgrade the internal design layout to meet modern occupier requirements. On completion, future tenants will benefit from 24 hour office access and enhanced access between office floors.
South Bank Central’s commercial elements, designed by tp bennett, also include an active retail frontage, a roof terrace and an improved public realm to create a new sense of place. Hermes Investment Management and CPPIB committed to acquire the commercial elements of South Bank Central in 2014. The scheme is due to finish by the end of 2016 and will comprise of circa 269,000 sq ft of office and retail space.
Stephen Bradley, Asset Manager, Hermes Investment Management, said: “The South Bank is fast gaining momentum as an area of choice for commercial occupiers, particularly among the creative industries. The South Bank Central development in partnership with CPPIB will put us right in the heart of it all. By upgrading the internal design and layout of the development, we are able to make the space even more appealing to tenants, creating an attractive area for local people and visitors alike.
“Our aim with South Bank Central is to create is a vibrant, mixed use scheme that will integrate with, and benefit from, the wider attractions of public realm, accessibility, leisure, retail and other facilities within South Bank.”
Acting as lead architects and planners for the scheme, Chris Bennie, Principal Director of tp bennett said: “South Bank has experienced immense growth within the last five years and is fast becoming one of the most desirable locations in London, due to its rich mix of history and contemporary culture, which is drawing new occupiers from other established central locations.”
