Landsec has backed prime London offices by committing to its 380,000 sq ft Timber Square development in Southwark. The scheme had been on hold since planning was gained in 2020.
Landsec had put main works on the development on pause but has now confirmed it will press on with plans to complete Timber Square, before the end of 2025. Mace have been appointed as construction manager, with an estimated development cost of around £380m.
Head of workplace, Oliver Knight, said the market for central London grade-A office space was becoming increasingly competitive, “with demand outstripping supply in core markets. At Timber Square, we’re delivering two highly sustainable buildings centred around a new public square, with a breadth of amenities with highly efficient space. Timber Square, along with our wider Southwark pipeline, will deliver much-needed prime space, meeting businesses’ priorities of attracting the best talent and meeting sustainability goals.”
The go ahead for Timber Square will take Landsec closer to its target of developing one million sq ft of green office space in Southwark.
Timber Square will be an energy efficient, net-zero office development, with all-electric buildings powered by 100% renewable energy and heated and cooled by air source heat pumps.
The space will target BREEAM ‘Outstanding’ and Well Core Platinum ratings, and will include a rooftop terrace and clubroom, private terraces and new public realm with a mix of retail, leisure and food and beverage outlets extending from Borough Market.
The development will combine the reuse of elements of the existing printworks building and modern methods of construction including cross-laminated timber (CLT), using a hybrid steel and CLT structure.
CBRE and JLL are the retained leasing agents for the scheme.