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U.S.-Korean development consortium receive planning approval for €1.2b London project
Transactions - MAY 1, 2024

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U.S.-Korean development consortium receive planning approval for €1.2b London project

by Andrea Zander

A U.S.-Korean development consortium between Hines and National Pension Service of Korea, has received approval for the development of a trio of towers at the southern end of Blackfriars Bridge, 18 Blackfriars Road, in London.

The project will total €1.2 billion ($1.3 billion), according to media outlets.

Developer Hines, in with partnership National Pension Service of Korea, bought the 18 Blackfriars Road site for €243 million ($260 million) in 2021.

“Our plans will transform an undeveloped piece of land, most of which has lain empty for over 20 years, into much needed new homes and first class, sustainable and tech-enabled offices, built around a central hub, which we hope will become a brand new convening space for the local community,” said Ross Blair, senior managing director and country head of Hines UK.

18 Blackfriars Road is designed to be fossil-fuel free, 100 percent electric and

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