Southwark to grant planning permission for £240m U+I scheme

Specialist regeneration developer U+I announced on Tuesday that the Southwark planning committee has resolved to grant planning permission at its £240m gross development value public-private partnership scheme, Landmark Court, subject to the standard six week procedural and section 106 process.

The London-listed firm said the scheme was expected to deliver between £10m and £15m of development and trading profit to U+I over the five-year lifespan of the project, with “significant” development management fees starting in the 2021 financial year.

Held in joint venture with Transport for London, the company said the 1.7 acre mixed-use scheme in zone 1 would deliver more than 200,000 square feet of contemporary office, retail and workspace, as well as new homes.

It said it would also “protect and enhance” neighbouring Crossbones Graveyard, preserving the long-term future of the historic burial ground.

U+I was expecting to start on site in the first quarter of 2021, and complete the scheme in 2023.

“This is an exciting opportunity to recreate Landmark Court's historic lanes and yards, providing much needed homes, workspace, shops and restaurants - including a new marketplace - for this close-knit community,” said chief development officer Richard Upton.

“Our plans will stitch this prime London location neighbouring vibrant Borough Market back together, creating over 1,800 new jobs and supporting the local economy.”

At 1130 BST, shares in U+I were down 0.24% at 82.8p.