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Construction begins on Building 2, a 50-storey residential tower in PLP’s fossil-fuel free Bankside Yards

February 21, 2024

Construction has begun on Building 2, a 50-storey, 250-apartment tower at Bankside Yards on the South Bank of London’s River Thames. The building, the tallest new residential tower currently under development in prime central London, is designed by PLP Architecture within a new neighbourhood also designed by the studio. Building 2 will be a key landmark, marking the gateway into Southwark from the North, and the high point of the £3bn Bankside Yards estate.

When completed Building 2 will sit alongside Arbor, the development’s flagship office building, which is more than 50% let following completion in spring 2023, achieving record rents for the South Bank market. Construction work on Building 2 is due for completion in late 2026.

Building 2’s 250 residences will enjoy stunning views across central London, unrivalled amenities and access to the world-class cultural offer of the South Bank. Located at the transport hub of Blackfriars, Bankside Yards counts Shakespeare’s Globe, Tate Modern and the Southbank Centre as its neighbours. 

At 1.4 million sq ft, Bankside Yards is one of the most significant developments underway in central London. The development masterplan has been conceived by PLP Architecture, on behalf of a Native Land-led consortium, to deliver a world-class mix of prime riverside residential, headquarters workplace, 5-star hospitality space and exceptional amenities, on a scale that reflects the site’s strategic location in a global gateway city.

Global hospitality business Mandarin Oriental Hotel Group will open its third London hotel at Bankside Yards in 2028, to be called Mandarin Oriental Bankside, a 38-storey, 171-bed, 5-star hotel with 70 branded residences. Arbor, the newly completed, prime office building at Bankside Yards has attracted significant interest from occupiers, with lettings to Merlin Entertainments, the global leader in branded entertainment destinations, leading global climate consultancy The Carbon Trust, FTSE 100-listed industrial technology business Smiths Group plc, and law firms Lewis Silkin and Winckworth Sherwood.

Bankside Yards is the UK’s first fossil fuel-free major mixed-use development. All its electrical power will come from fully renewable sources. A pioneering fifth-generation energy sharing network will deliver reductions in energy use and enable the site to achieve net zero carbon in operation.