Slovakia based developer and investor J & T Real Estate partners with London-based luxury developer Sons & Co for an ambitious prime residential scheme on London’s South Bank
Since its founding in 1996, JTRE has been operating throughout Central Eastern Europe, however, their purchase of 185 Park Street from Delancey’s Dv4 client fund marks their first foray into the UK’s prestigious capital.
This development plot – which once served as a home to the National Grid – occupies an exclusive South Bank seat on the eastern end of Tate Modern. Planning is already in place for an expansive mixed-use scheme with a gross development value of £400m. Comprising the development are 163 apartments, over 80,000 sq ft of office space, over 9,000 sq ft of retail space and what has been dubbed a ‘cultural facility’.
Prime central London luxury residential specialists Sons & Co will be serving as the development managers of Park Street’s three Squire & Partners-designed high-rise towers.
The project is slated for completion by 2022, with an estimated three-year development plan. In addition to their 185 Park Street development, Sons & Co and JTRE will also be delivering 57 extra-care properties for the borough’s local residents.
Alex Stocker, Sons & Co’s chief executive officer, and Peter Korbacka, Founder and Chairman of the Board at J & T Real Estate, offer their own take on the project in Prime Resi. Subscribers can read the full article here.