New homes to be developed in Blackfriars

Housebuilders will develop 10 luxury new homes in Blackfriars, London, as part of a major mixed-use development near Blackfriars Bridge.

The new build apartments will be built adjacent to a new £70m mixed-use tower block which will be developed near Blackfriars Bridge.

The high-rise scheme, which will constructed by Mace, will go-ahead after Great Portland Estates and Ropemaker Properties agreed a deal with UBM which will see the publishing group occupy the block at an annual rent of close to £5m per year.

The new homes are expected measure around 880sqft each, on average, and will no doubt prove popular with many homebuyers looking to find a property in London.

Neil Thompson of Great Portland Estates said: "240 Blackfriars Road will be a prominent, high quality building of outstanding design which will help to continue the regeneration of this part of the Southbank.

"We look forward to working with UBM to build for them a world class UK headquarters building."

Richard Bowers, head of estate management at UBM plc, commented: "We look forward to occupying such a prominent and impressive landmark building, which we intend to fit out to a high standard to create a vibrant collaborative and productive environment maintaining our long term future to this location."