Multiplex has secured a £500m ($623.9m) contract to redevelop the former ITV studios into a mixed-use development at London's South Bank, UK, aiming for completion in 2029.
Mitsubishi Estate London and CO-RE have assigned Multiplex to the project to transform the site, 72 Upper Ground.
Mitsubishi Estate London CEO Shinichi Kagitomi said: “Starting on-site marks a major milestone for this landmark development, which will make a significant positive contribution to the South Bank.”
The country's High Court approved the project last month, with construction set to start immediately.
Demolition contractor McGee has initiated preliminary works on the 2.5-acre site. The project, designed by Make Architects, will include a 25-storey office tower linked to two smaller buildings of 14 and six storeys.
The development is set to offer quality and affordable workspaces, specifically designed to cater to the emerging creative industries in Lambeth. Additionally, the plan includes new restaurants, cafés, cultural venues, and open green spaces for the public.
Sustainability is a cornerstone of the scheme, which will operate entirely on electricity and aims to achieve net-zero carbon emissions. It is also targeting a Building Research Establishment Environmental Assessment Method Outstanding certification.
The project will incorporate new green spaces to enhance biodiversity and mitigate carbon dioxide emissions. The development will also feature 1,300 cycle parking spaces complemented by end-of-trip facilities.t.
The redevelopment will convert 40% of the site into the public realm, introducing two new public squares, an accessible ground floor, and walkways.
At the heart of 72 Upper Ground will be the cultural and innovation hub, London Studios, which will span the basement, ground, and first floors of the site.
This hub will also feature an on-site residency programme in collaboration with Lambeth-based organisations such as Iconic Steps, Black Cultural Archives, and Young Creators UK.
In November last year, St John’s Wood Square Development selected Multiplex for a residential redevelopment project at the former St John’s Wood Barracks in Westminster, London.
