International real estate developer HB Reavis announced today the acquisition of Elizabeth House, a site on London’s South Bank known as One Waterloo, where an 88 000 sq m development has been granted planning permission.
We’re excited to add Elizabeth House to our portfolio. The development provides a unique opportunity for us to deliver a building that will transform the area through our considered approach to development and placemaking. The deal aligns with our strategy of acquiring well-located sites in London with significant potential to deliver innovative, contemporary office schemes that employ the latest technology, are heavily focused on the needs of their occupiers and improve life for those who use our buildings as well as the surrounding community.
In recent months we have been asked about our perspective and commitment to the London market. This deal – our largest yet in the UK – affirms our long-term commitment and aligns with our plan to position one third of our business operations in London by 2019. The development joins a list of major schemes of similar size and urban scale across our other markets including Varso Place in Warsaw, Agora in Budapest and NIVY/Twin City in Bratislava. Both Elizabeth House and Varso Place are unique due to their extraordinary vicinity to major transportation hubs and their scale and prominence provide an endless range of user experiences. These are the development opportunities we live for!