Helical Secures Planning Approval for Southwark Tube Station Development
Why we think this is good
The RNS announcement provides a positive update on Helical's joint venture with Places for London, securing planning approval for a significant development project above Southwark Tube station. The development will deliver much-needed student accommodation and affordable housing, while targeting high sustainability standards. This is a step forward for the company's broader joint venture plans, though the financial impact is not immediately clear from the information provided.
Key Points
- Planning approval secured for 429 PBSA units and 44 affordable homes above Southwark Tube station
- Development targeting high sustainability standards, including 4.5-star Home Quality Mark and BREEAM Outstanding
- Part of a broader joint venture between Helical and Places for London
Summary
Helical plc has received planning approval for a joint venture development with Places for London above Southwark Tube station. The scheme will deliver 429 purpose-built student accommodation units and 44 affordable homes, along with new retail and community spaces, and improvements to the public realm. The development is targeting the highest sustainability standards, with a 4.5-star Home Quality Mark for the affordable housing and BREEAM Outstanding for the student accommodation. This is one of three initial sites being delivered as part of Helical and Places for London's joint venture.