Developers Land Securities have sold their 20 Blackfriars Road site. The new owners says that they will press ahead with plans for 42-storey and 23-storey towers.
Land Securities bought most of the site from Sainsbury's in 2003 for £38 million and aquired the remainder in smaller transactions. Property Week reports the resale price of the entire site as £90 million.
New owners Circleplane (sole shareholder David Hackmey) say that they will continue with the planning application for 20 Blackfriars Road submitted in February by Land Securities.
"We are excited to become involved in the regeneration of Southwark," says David Hackmey. "We want to work with the community and be good neighbours."
Land Securities commissioned architects Wilkinson Eyre who designed a 23-storey (104-metre) office tower on Blackfriars Road and a 42-storey (141-metre) residential tower on Stamford Street with retail at ground level.