Multiplex Begins £500M Contract for South Bank Redevelopment
Multiplex Awarded £500 Million Contract for Landmark Redevelopment of Former ITV Studios on South Bank. The transformation of the former ITV studios on London’s iconic South Bank is officially underway, marking a significant milestone in the redevelopment of this historic site. Mitsubishi Estate London and CO—RE have awarded the contract to Multiplex, a global construction company renowned for its expertise in delivering complex projects. Construction has commenced immediately, with the project targeting completion in 2029.
The redevelopment, designed by Make Architects, aims to create a commercially led mixed-use development that priorities wellbeing and sustainability. The 2.5-acre site will be transformed into a vibrant hub featuring a 25-storey office building connected to two additional buildings of 14 and 6 storeys. The development will offer high-quality and affordable workspace, specifically tailored to the needs of Lambeth’s emerging creative industries. Additionally, new cafes, restaurants, cultural venues, and open green spaces will enhance the area’s appeal.
Shinichi Kagitomi, Chief Executive of Mitsubishi Estate London, expressed his excitement about the project, stating, “Starting on site marks a major milestone for this landmark development, which will make a significant positive contribution to the South Bank.” Stephen Black, Director at CO—RE, added, “Multiplex brings world-class construction expertise to the project. We look forward to working in partnership with them and Mitsubishi Estate to deliver an outstanding building.”
Callum Tuckett, UK Managing Director at Multiplex, shared his enthusiasm, saying, “We are very proud to be involved with such an exciting mixed-use development, which will transform this part of the South Bank. We have a highly experienced and talented project team on site and are looking forward to delivering a high-quality scheme that matches the ambitions of all project partners and stakeholders.”
Sustainability is a key focus of the all-electric, fossil fuel-free scheme, which aims to achieve net zero carbon in operation and BREEAM ‘Outstanding’ certification, the highest standard of sustainability. The development will also feature 1,300 cycle parking spaces, high-quality end-of-trip facilities, and new green spaces to boost biodiversity and reduce CO2 levels.
The project is targeting the highest WELL certification, Platinum, with a design that prioritizes the wellbeing of office workers. External terraces and balconies overlooking the Thames will provide greater access to fresh air and natural light, extending the workspace outdoors.
The redevelopment will open up 40% of the site to the public, creating two new public squares, an active ground floor, and several public walkways. A new public rooftop restaurant and terrace will offer stunning views of the Thames, further enhancing the area’s appeal.
At the heart of the development is the London Studios, a multi-level cultural and innovation hub that will provide rehearsal space, gallery and presentation spaces, soundproofed studios, and education and training facilities. The hub will support emerging creative industries through an on-site residency program with Lambeth-based organisations, including Black Cultural Archives, Iconic Steps, and Young Creators UK.
The London Studios will offer around 40,000 sq ft of net affordable workspace for the creative industries, with discounts of up to 90% from open market rents for not-for-profits committed to supporting disadvantaged young people in the creative and tech economy.
This landmark redevelopment promises to transform the South Bank, creating a vibrant, sustainable, and inclusive community space that will benefit both businesses and residents for years to come.
