Construction work commences at 76 Southbank, an iconic transformation on the riverside

Stanhope are pleased to announce that construction work has commenced on the transformation and extension of 76 Southbank, adjacent to the National Theatre, to create a premier, sustainable office space that embodies innovation and wellbeing.

Construction, which will take place over the next 18 months, is being led by Multiplex which has been appointed as main contractor.

The historic Grade II listed building is being sensitively remodelled and refurbished, with 80% of the iconic building’s existing structure preserved. The transformed building has been designed by AHMM.

76 Southbank will become a noteworthy example of low carbon office design, with a commitment to achieving Net Zero Carbon in both construction and operation. The project's sustainability credentials are made possible through energy innovation and a focus on retaining the building's historical significance. The development is targeting BREEAM Outstanding certification and has a NABERS Design Reviewed Target Rating of 5 Stars. It encompasses a circular economy approach, including efforts to maximise off-site fabrication of key building elements such as façade and MEP systems to minimise waste on site, and the procurement of re-used steel.

Recognising the importance of wellbeing, the refurbished 76 Southbank will offer flexible office spaces that promote productivity and comfort and help foster collaboration. The development will feature an impressive 50,000 sq. ft of outdoor terraces, providing occupants with panoramic river views, and will incorporate biophilic landscaping, enhancing the connection to nature. It has been designed with a double-height entrance lobby and a striking centrepiece staircase that will serve as a visual focal point. Embracing future-thinking concepts, the project incorporates touchless entry design, prioritising the health and safety of occupants.

In addition to its sustainability and wellbeing credentials, 76 Southbank will also contribute significantly to the local economy. The development will provide 300,000 sq ft of much-needed office space, creating 1,200 additional jobs for the community and wider London. The well-connected building is just a short walk away from Waterloo station, while nearby Blackfriars and Charing Cross stations provide excellent transport links to Greater London and the Home Counties.

Global alternative asset manager Cheyne Capital Real Estate provided the financing for the project. Leading real estate agencies CBRE and JLL have been appointed as the agents for 76 Southbank. The project is set to complete in Q4 2024.

Nick Jarman, Project Director at Stanhope said:
“This project represents a significant milestone in our commitment to transforming historic buildings into vibrant, sustainable spaces that promote innovation and wellbeing. With the expertise of Multiplex and our shared vision, we are confident that 76 Southbank will become a premier office destination, showcasing the perfect blend of heritage and contemporary design."

Matt Price, Project Director at Multiplex said:
“We are extremely proud to be partnering with Stanhope to deliver the extension and refurbishment of this iconic project on London’s Southbank. Having worked closely with the development team throughout the pre-construction and demolition stages of the project, we’ve now taken over management of the site, marking a significant milestone in the construction journey, ahead of the existing structure going back up and superstructure works commencing.”

Filippo Alessandria at Cheyne Capital Real Estate concluded:
“This is a landmark project and a rare opportunity to redevelop such a historic building in Central London. We were impressed by the project team’s emphasis on sustainability and are proud to help deliver this high quality, BREEAM Outstanding office in the heart of Southbank.“