A new home overlooking Tate Modern and St Paul's Cathedral could soon become the most expensive residential property ever sold in SE1.
The price makes the penthouse apartment at the One Tower Bridge development currently being advertised for £15 million seem like a bargain.
The asking price of just one of the 217 homes in the Rogers Stirk Harbour-designed scheme is comparable to the £24.5 million the developers paid to acquire the whole site in 2005.
Last week Southwark's planning committee agreed to allocate £5.2 million of the £9 million paid by the developers of Neo Bankside in lieu of on-site shared ownership homes towards the building of new council flats a mile and a half away in Willow Walk.
Planning committee member and Cathedrals ward councillor Adele Morris said: "It's great that it's providing affordable housing but it's providing affordable housing on Willow Walk and 50 per cent of that housing will be made available to the neighbouring Setchell Estate.
"That's very nice for the Setchell Estate, but what about 50 per cent of the residents of Bankside getting priority access to some new affordable housing?"
Council officer Zayd Al-Jawad replied: "As part of the direct delivery programme [of council house building] as a whole we are looking at sites across the borough, including in Cathedrals ward, which should benefit further down the line."
For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.
7,000+ locals read it every week. Can you afford to miss out?
Read the latest issue before signing up