Site above Southwark Tube Station recommended for PBSA

Plans for an office block may have been shelved for a Southwark Tube Station PBSA scheme as TFL indicate a change in direction.

Southwark Tube Station's original office plans | PBSA News
Southwark Tube Station's original office plans.

TfL has revealed that developer Helical has recommended that an office scheme should be scrapped in favour of the development of purpose-built student accommodation (PBSA). The development would house 429 bedrooms above Southwark Tube Station.

Three years ago Southwark councillors approved plans for a 17-storey office block. The scheme was later added to a cluster of TfL-owned sites to be developed by Helical. The company specialises in developing and owning the highest quality office buildings in Central London.

News of the potential change of plan has been announced in a report by Graeme Craig, Chief Executive of TfL’s Places for London subsidiary, in a report to the land and property committee of the TfL board. Southwark Tube Station could see a radical change from the original plans.

“Based on its remit to maximise both shareholder and social value, Helical, as appointed development manager together with the consultant team, has reviewed the development options

“Helical recommends that the joint venture consider progressing a mixed use PBSA and affordable housing scheme.

“a new PBSA building comprising 429 self-contained student rooms above the station [and] a separate building comprising 40 new affordable homes in a second, standalone building adjacent to the station – these homes would replace the London Borough of Southwark’s previous proposal to develop 25 homes immediately adjacent to the OSD site.

“The joint venture will continue to assess the implications of a PBSA scheme at Southwark OSD. Subject to discussions, once the joint venture has issued a revised business plan for shareholder approval, we will assess the required changes to the agreements authorised by the previous approval and new approvals will be sought as required, in accordance with TfL standing orders.”

Graeme Craig, chief executive of TfL’s Places for London subsidiary