HB Reavis snapped up Elizabeth House, a site on London’s South Bank known as One Waterloo, where a 945K SF office-led development has been granted planning permission. The seller was London & Regional and Chesfields.

Elizabeth House is a 1960s office building that has been earmarked for redevelopment for more than 10 years. It has planning permission for two new buildings and public realm and the plans are expected to spark wider regeneration in this strategically important and well-connected area of the South Bank.

The proposed new development comprises a 29-storey building to the north providing offices and residential units and a 10-storey building to the south providing office and retail space. The scheme delivers 753K SF of commercial floor space, 142 homes and public space totalling 192K SF.

HB Reavis has three London schemes under construction:

• 33 Central – a 225K SF new build office on King William Street in the City. In 2016 the office was sold to Wells Fargo, which will consolidate its London teams here later in 2017. The building will be rated BREAAM Excellent for sustainability and feature a quarter-acre rooftop garden.

• Cooper & Southwark — a 78K SF office building at 61 Southwark St. due to complete later in 2017.

• 20 Farringdon St. – an 84K SF office building due to complete in 2018.