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One Blackfriars - Planning Statement FINAL VERSION - Southwark ...

One Blackfriars - Planning Statement FINAL VERSION - Southwark ...

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CBRE | ST GEORGE SOUTH LONDON LTD5.0 Proposed DevelopmentMix and type of uses5.5 The table below describes the principal components of the Proposed Developmentcompared to the Implemented Permission. The Proposed Development wouldprovide a total floorspace of 74,925 sq m (GEA).Floorspace Breakdown Comparison (Sq (m GEA)LAND USE IMPLEMENTED PERMISSION PROPOSED DEVELOPMENTResidential (Class C3) – including ancillaryresidential facilities and viewing lounge26,864 52,674Retail (Class A1-A5/D2) 911 1,336Hotel (Class C1) 35,348 11,267Sky Deck 993 -Ancillary (incl.Plant and Basement) 11,944 9,648TOTAL 76,060 74,9255.6 The development which is the subject of the Implemented Permission has stalled. Inthe current economic climate, there are significant concerns over the viability of theImplemented Permission. The proposed changes result in a more viabledevelopment which better reflects current demand and provides the developer withconfidence that the development can be taken forward immediately following thegrant of planning permission.5.7 The Proposed Development that planning permission is being sought for under thisNew Application is viable and deliverable in the current economic climate and, ifapproved, the Applicant would complete within 48 months from starting on site in2013.5.8 The delivery of the Proposed Development would act as a catalyst for theregeneration of the wider Bankside North area and Borough as a whole with anumber of major development sites currently stalled. This is particularly significant inlight of the core objective of the NPPF to secure the delivery of sustainabledevelopment. The regeneration and economic considerations are considered later inthis report.Page 15PROPOSED DEVELOPMENT

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