A joint venture has been created by Development Securities and Transport for London (TfL) to construct a new mixed-use scheme above Southwark Underground Station.



The site, which is on Blackfriars Road is around 1 acre in size and will deliver approximately 225,000sq ft which will include the construction of 300 flats.



The construction site will be found between the Elephant and Castle regeneration area and the South Bank and will include over 300 flats, shops and restaurants.



The existing buildings on the site includes a vacant office block, Algarve House and land owned by TfL including air space above South Underground Station, as well as further land around the station which is owned by the London Borough of Southwark.



Architectures firm AHMM has been signed up by the joint venture partners to develop a master plan for the construction as well as being responsible for submitting planning permission.



Julian Barwick, Director, Development Securities said: “Our site is located within an exciting area of Southwark with huge potential to deliver a development that creates new employment and housing opportunities as well as considerable new public realm and leisure opportunities.



“Following our success at 10 and 12 Hammersmith Grove, we are delighted to have joined forces again with TfL to create a partnership that has the expertise and ability to deliver a significant regeneration development for the local area.”



Graeme Craig, Director of Commercial Development, TfL said: “The development above and around Southwark Underground station will see the creation of homes, jobs and new community facilities on a site that has been left undeveloped for far too long.”

This is more great news for the UK's construction industry which is day in day out seeing an increase in the number of construction projects being developed which will deliver more construction jobs and growth in sales of construction supplies through builders' merchants and for construction product manufacturers throughout the country.