HB Reavis buys Elizabeth House in London

HB Reavis has purchased the Elizabeth House site on London's Southbank.

The sales price is estimated to be £250 million ($323 million). The sellers were London & Regional and Chelsfield.

The site, which lies immediately adjacent to Waterloo Station, the United Kingdom’s busiest transport hub, has detailed planning consent to deliver a major, 1.4 million square foot gross, mixed-use scheme.

The proposed new development comprises a 29-storey building providing offices and residential units and a 10-story building to the south providing office and retail space. The scheme delivers 945,000 square-foot of development, including 753,000 square feet of commercial floor space, 142 homes and public space totaling 192,000 square feet.

HB Reavis has several developments, located in the City, Southwark and Farringdon.