Transport for London Signs Deal With Helical for Over-Station Offices

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16 February 2023

Transport for London is to partner with Helical to create a new sustainable commercial office portfolio across central London.

TTL Properties Ltd, the property arm of Transport for London (TfL), and Helical will develop the sites at Bank, Paddington and Southwark.

The joint venture company will purchase leasehold interests in the sites from TfL and establish individual property companies for each site. The sites will then be developed directly by the company, which is to be funded with equity and debt.

The buildings will be constructed on the basis of net-zero carbon, a rating of BREEAM Outstanding and Platinum WELL v2 Core.

 

Bank Over-Station Development

 

Above the new station entrance on Cannon Street, this eight-storey development, along with a basement, will include both office and retail space, measuring around 140,000 sq. ft. Net Internal Area (NIA), external terraces on the fifth, sixth and seventh floors and a green roof.

 

Paddington Over-Station Development

 

Located by Grand Union Canal and close to the new Elizabeth line station at Paddington, this 19-storey building currently has permission to deliver new office and retail space measuring around 235,000 sq. ft. NIA. It will include a canal-side reception and use a ground and air source heat pump system.

 

Southwark Over-Station Development

 

Above Southwark Tube station on the Jubilee line, this 17-storey hybrid timber building is set to be one of the greenest and healthiest large-scale commercial buildings in the UK. Measuring around 220,000 sq. ft. NIA, it will provide a mixture of commercial office space and retail space and has external terraces on most floors.

 

Picture: a render showing the proposed Bank over-station development. Image Credit: TfL and Miler Hare

Article written by Ella Tansley | Published 16 February 2023

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