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HB Reavis finalises planning for iconic One Waterloo scheme


HB Reavis, the international workspace provider, has announced One Waterloo, currently known as Elizabeth House, has been officially granted planning consent following completion of its Section 106 agreement.

Since gaining resolution to grant planning permission in October 2019, HB Reavis has now finalised plans with Lambeth Council, with a commitment to provide a c. 115 mil EUR package of public benefits, signalling the next phase for one of central London’s largest and most significant commercial developments.  
One Waterloo will be an iconic and vibrant multi-purpose destination next to Waterloo Station in the heart of the South Bank. The prominent scheme will be informed by connected themes: the neighbourhood, nature and health, sustainability and future workspace all underpinned by experience and hospitality.
One Waterloo, aerial view, HB Reavis.jpg
With a focus on health and wellbeing and targeting WELL Platinum, HB Reavis will create three acres of outdoor space within One Waterloo to support the office workers and the wider community. A publicly accessible 200m long garden promenade, elevated two floors above street level, will create a scenic journey from the concourse level at Waterloo Station directly into One Waterloo. HB Reavis will also provide a package of improvements for Network Rail, landscaping and accessibility improvements for Waterloo London (the former Waterloo International Terminal) and contribute towards step-free access to the London Underground station at Waterloo, providing improved accessible routes to the Underground network.  
New public spaces, including Victory Arch Square and the unique covered Waterloo Square (c.800 sq m), as well as ‘The Curve’, a major new pedestrianised retail street lined with shops and cafés, will transform the public realm. The cascading terraces and gardens for office occupiers will offer a choice of outdoor spaces to find the right place to relax and rest. Additionally, an urban sky farm on the 16th floor terrace will offer ultra-fresh produce for the scheme’s occupiers.
With aspirations to be one of London’s most sustainable developments, One Waterloo’s office space will be fossil-fuel free, implementing low carbon solutions in all project stages. This is being made possible through HB Reavis’ integrated developer-construction model, which will see the building target net zero carbon in operation. There will be greater than a 35% reduction in energy consumption through a “lean, clean and green” innovative building design using specialist Swedish designers. This will maximise efficiency through an all-electric solution combining integrated heat pumps and heat recovery, and 98.8% of demolition waste diverted from landfill. These initiatives, among others, will support the building to achieve BREEAM Outstanding.
New CGI, One Waterloo promenade, HB Reavis.jpeg
HB Reavis has committed to providing a bespoke affordable workspace scheme. Opportunities will be created for local Lambeth residents and businesses, social enterprises, disadvantaged groups, and those in the creative sector to benefit from over 38 mil EUR in membership discounts provided over 15 years.  In addition, there will be a tailored employment and skills strategy, that focuses on engagement with local schools and colleges, and improving opportunities for local unemployed and younger residents with few or no qualifications.

Notes for editors:
The redevelopment of Elizabeth House, to be known as One Waterloo, is set to be one of London’s largest and most significant commercial developments.  
HB Reavis rethinks the workspace experience through its c. 123,000 sq m multi-purpose scheme, focused on nature and health. The first of its kind for London: a publicly accessible garden promenade elevated two floors above street level and connected to Waterloo Station via a new footbridge. Three acres of outdoor space with over 100 planted trees will be created, including brand new public squares and cascading terraces, as well as a unique urban sky farm.
HB Reavis has been granted planning consent by Lambeth Council for One Waterloo, agreeing to provide a c. 115 mil EUR package of public benefits, including contributions to new step-free access to the underground station at Waterloo, over 38 mil EUR of discounted workspace memberships, and a tailored local employment and skills strategy.

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