The proposed Vauxhall Square redevelopment is located close to Vauxhall’s transport interchange and invcludes two residential towers of approximately 50 stories containing 510 homes, 15,000sqm of office space, 3,500sqm of retail, restaurant and café space, 416 student units, a 438 bed hotel, a 4 screen cinema, 94 affordable housing units and a new homeless hostel. THere will also be a major new public square of similar size to Paternoster Square in the City of London.
Vauxhall Square is in the Vauxhall Nine Elms regeneration area between the Vauxhall transport links and the proposed new US Embassy.
Subject to receiving planning consent, CLS would aim to start on site in 2014, with phases being completed from 2017 onwards. The development cost of the proposed scheme is in excess of £400 million.
Richard Tice, Chief Executive Officer of CLS Holdings plc, commented: “This substantial mixed-use scheme is a key element to the Vauxhall Nine Elms regeneration plans. It will create a new vibrant heart for Vauxhall and over 1,000 additional full-time jobs across a broad range of skills, both during and after construction. The investment of over £400 million will bring substantial benefits to a wide range of stakeholders and is not dependent on the Northern Line extension.”