Transport for London’s commercial arm TTL Properties Ltd has selected Helical as its preferred bidder for its office developments.
Three over-station developments at Bank, Paddington and Southwark will create sustainable workspaces across central London.
A joint venture company will be created for the sites, which already have full planning permission.
As well as providing office space the project will create revenue for TfL, and promote active travel and sustainable construction.
The builds are to be net zero, and achieve a rating of BREEAM Outstanding and Platinum WELL v2 Core. Almost 900 cycle spaces in total will be provided across the TfL station projects.
TTL Properties head of property development Scott Anderson said: “This new joint venture complements our wider commercial development programme, which will see us deliver thousands of new and affordable homes in London, develop our estate to support small businesses and train the next generation entering the construction industry.
“This partnership will also help deliver operational benefits and generate vital additional revenue, which can be reinvested into the transport network and help fund a safe, green and reliable public transport network.”
Helical was selected through a competitive procurement process. The deal is subject to contract negotiations and a 10-day standstill period. TTLP was advised by JLL and Herbert Smith Freehills LLP.
Work on the Bank development above the new station entrance on Cannon Street is expected to begin next year.
This will be a 140,000 sq ft net internal area, eight-storey development with a basement. It will include both office and retail space and have external terraces on fifth, sixth and seventh floors, plus a green roof.
Hybrid timber building
Construction on the Southwark over-station development, on the Jubilee line, is expected to start in 2025.
This will be a 17-storey hybrid timber building with 220,000 sq ft. It will provide a mixture of commercial office and retail space as well as external terraces on most floors.
The Paddington over-station development is located by the Grand Union Canal and close to the new Elizabeth line station at Paddington. Work is expected to start on this in 2026.
It will be a 19-storey building and has permission to deliver new office and retail space measuring around 235,000 sq ft. It will include a canalside reception and use a ground and air source heat pump system.
