News

Breaking Ground on Vista at 72 Upper Ground, The South Bank's next major icon

25 September 2025, London. Mitsubishi Estate London and CO—RE have officially broken ground on an £800m landmark riverside development on London’s South Bank. 

Set to deliver one of London’s most sustainable and culturally inclusive office buildings by 2029, Vista at 72 Upper Ground, the 640,000 square feet redevelopment of the former ITV Studios site symbolises continued international confidence in London as a global business and investment destination. 

The groundbreaking ceremony brought together senior figures from across government, international investment, and the project team, including Jason Stockwood, Minister for Investment; Howard Dawber, Deputy Mayor for Business and Growth; Hiroshi Suzuki, Ambassador of Japan to UK; Masanori Iwase, Senior Executive Officer of Mitsubishi Estate; Shinichi Kagitomi; Chief Executive of Mitsubishi Estate London; Cllr Danny Adilypour, deputy leader of Lambeth Council; Kate Varah, co-chief executive of the National Theatre; and Bradley Baker, Chief Executive of CO—RE.

Designed by Make Architects, the scheme will deliver a 25-storey office tower connected to two smaller buildings of 14 and 6 storeys. The development will offer premium and affordable workspace tailored to Lambeth’s creative industries, alongside new cafes, cultural venues, and publicly accessible green spaces.

Masanori Iwase, Senior Executive Officer of Mitsubishi Estate, said:
“Breaking ground at Vista marks the beginning of a new chapter for London’s South Bank — one that honours the site’s cultural legacy while delivering a modern, sustainable and inclusive workplace.

“We understand and respect the responsibilities that come with being a major investor in London, and it makes us very proud to demonstrate what can be achieved when working with local government and communities to achieve a shared vision. We are grateful for the support of Lambeth Council, the GLA and UK Government.

“Mitsubishi Estate has been investing in London since 1985, and today’s milestone reflects our long-term confidence in the city and in the enduring partnership between Japan and the UK.”

Minister for Investment Jason Stockwood said:

“This huge new investment is a huge vote of confidence in the UK as well as a major boost for our thriving creative industries, which we’re determined to make the best in the world as part of our modern Industrial Strategy and decade of national renewal.

“Mitsubishi Estate’s investment will empower the creative community in Lambeth and encourage businesses to grow, creating jobs and opportunities that will ultimately put more money in people’s pockets as part of our Plan for Change."

Bradley Baker, Chief Executive of CO—RE, added:
“Vista at 72 Upper Ground is a once-in-a-generation opportunity to reshape a key part of London’s South Bank. This is a new cultural and commercial destination that will open up the riverfront, support Lambeth’s creative economy, and set new benchmarks for sustainability and wellbeing. We’re proud to be leading the delivery of this landmark scheme in partnership with Mitsubishi Estate, and grateful for the support of our design and construction teams, who have helped bring this vision to life.”

Earlier this month, Mitsubishi Estate London launched a five-year partnership with The National Theatre, Vista’s neighbour on the South Bank, to support young people’s access to the arts. This major new initiative will provide thousands of students from schools across Greater London with free tickets to the National Theatre’s stand-out productions. Bespoke learning resources will also be created to bring stories from the plays and its themes into classrooms.