6 March 2025

Helical and Places for London secure planning approval for student accommodation and affordable homes development above Southwark Tube station

·      429 purpose built student accommodation (PBSA) units and 44 affordable homes will be delivered along with improvements to the public realm

·      Scheme above Southwark Tube's Jubilee line station will seek to deliver the highest standards for sustainability

The joint venture ("JV") between Helical and Places for London, has received a resolution to grant planning approval from the London Borough of Southwark for the development of a 15 storey purpose-built student accommodation scheme ("PBSA"), comprising 429 studio apartments, and an adjacent nine storey building comprising 44 affordable homes, above Southwark station.

Designed by architects AHMM, the development will include a new Bauhaus-inspired block which will house the PBSA element, which will offer students a best in class experience in what is one of London's best-connected Zone 1 locations. With several universities within a short journey from the station, the new development will also help to alleviate the demand on the private rental market in the area.

The joint venture is targeting a 4.5-star Home Quality Mark for the scheme's affordable housing provision and BREEAM Outstanding for the PBSA. It will also offer new retail space and community space including a shared community garden, as well as improvements to the public realm through an increase in the amount of greenery and provision of active frontages on the Cut and Isabella Street. Building works at the new development are expected to start in 2026 and complete in 2028.

The Southwark over station development is the one of three initial sites that Places for London and Helical are delivering as part of their JV.

 A 140,000 sq ft office building at 10 King William Street is underway, and due for completion in December 2026 in a supply constrained market in the City core. Another office development of 235,000 sq ft at Paddington is progressing and due to start early next year.

Matthew Bonning-Snook, CEO of Helical plc, added: "This planning approval is a further positive step forward in our JV with Places for London. Whilst the site benefitted from planning permission for a 220,000 sq ft office scheme, we have brought forward a more valuable proposition. This important site will deliver much in demand purpose built student accommodation and affordable housing, along with high quality public realm and significant benefits to the local community." 

-ENDS-

For further information, please contact:

Schelical@fticonsulting.com