A property firm is planning to build new offices in central London as part of a major mixed-use development in Vauxhall.
CLS Holdings has put forward a planning application for a £400 million site totalling almost 1.7 million sq ft of space at Vauxhall Square, which forms part of the regeneration area of Vauxhall Nine Elms.
The development will include 163,945 sq ft of offices, almost 38,000 sq ft of space for restaurants, shops and cafes, a hotel, 510 homes, student and affordable housing, a cinema, and a public square that will be comparable in size to the City's Paternoster Square.
CLS submitted its application after conducting consultations with stakeholders. The company is looking to begin work on the scheme in 2014 and complete the first phase of the project in 2017.
The development would be situated near the transport interchange in Vauxhall, potentially making the area attractive to businesses looking for
central London offices that are easy for staff to get to.
CLS chief executive Richard Tice said the site will represent "a key element" of the regeneration of Vauxhall and will also not be reliant on the extension of the Northern line to Nine Elms and Battersea.
"It will create a new vibrant heart for Vauxhall and over 1,000 additional full-time jobs across a broad range of skills, both during and after construction," he explained.
"The investment of over £400 million will bring substantial benefits to a wide range of stakeholders."
Vauxhall Nine Elms' regeneration is expected create around 25,000 new jobs in total as the area is transformed into a major business and residential hub.
Other developments earmarked for the area that are anticipated to contribute to the overall plans include a new US embassy on Nine Elms Lane and a revamped commercial and retail space at New Covent Garden Market.
Posted by Sarah Dudley
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