Secretary of State Approves Mitsubishi Estate London and CO—RE’S redevelopment of former ITV studios on South Bank

Joint-statement by Shinichi Kagitomi CEO of Mitsubishi Estate London and Stephen Black, Director at CO—RE:

“We are delighted to hear that DLUHC has approved our transformational plans for 72 Upper Ground and the South Bank. Through all stages of the planning process there has been strong recognition of the fantastic addition that 72 Upper Ground will make to the South Bank and to London. Local young creative groups, Lambeth Council, the GLA and now DLUHC have all backed our proposals for a high-quality commercial and arts-led development befitting of one of London’s most famous destinations.

“72 Upper Ground represents a £700m investment in the UK, creating over 4,000 new jobs, and vital new workspace that prioritises sustainability and wellbeing. Crucially, it will benefit the local community through the London Studios, which will provide 40,000 sq ft net of affordable workspace that is tailored to the needs of Lambeth’s emerging creative industries. This includes new cultural venues that have rehearsal space, gallery and presentation spaces and studios, alongside new public spaces with river facing cafes and restaurants.

“We understand and respect the responsibilities that come with building a major new development on this prominent part of central London. We are looking forward to working with our cultural neighbours and the wider community to deliver an outstanding building that makes a significant positive contribution to its place.”