Hines has completed the off-market acquisition of 18 Blackfriars Road, a 1.8-acre development site in a prime central London location.
The currently vacant site, which has planning consent for a mixed-use scheme, has been acquired for an undisclosed price. Hines will announce further plans for this mixed-use development in due course but envisions the creation of a highly amenities, dynamic environment that brings the best of Hines’ global development experience and ESG learnings to benefit the Southwark community. Upon completion, the site will have a gross development value in excess of €1.1 billion ($1.2 billion). Foster and Partners have been appointed as project architect.
Ross Blair, senior managing director and country head of Hines U.K., said, “We are thrilled to have secured what is undoubtedly one of the most sought-after development opportunities in London. With the site in our ownership, we are focused on working with the London Borough of Southwark
