Slovak J&T Real Estate enters London property market with £400mn South Bank project

By bne IntelliNews July 16, 2018

Slovak developer and investment group J&T Real Estate has entered the London property market for the first time, buying a property in the South Bank where it plans to build flats, offices, shops and a cultural space worth £400mn (€452mn), the company said on July 14.

The property is at 185 Park Street near to the Millennium Bridge and Tate Modern. J&T Real Estate will cooperate with a local developer of luxury properties, Sons & Co. The project will include 163 flats, around 8,100 square metres of offices, 920 square metres of shopping space and 1,550 square metres of cultural space.

“The project is an important milestone both for J&T Real Estate and Sons & Co. It is also important for us that we enter the British developer market with this imposing project,” said J&T Real Estate founder and chairman of the board Peter Korbacka.

“185 Park Street is in a place seen in the context as a culturally sensitive. It is also a location with an enormous potential and we anticipate it will be one of the most expected projects in central London.”

According to J&T Real Estate, the cultural area is expected to be used by the Shakespeare's Globe Theatre.

“Our future cooperation with J&T Real Estate accompany high enthusiasm and expectations,” said an executive director of Sons & Co. Alex Stocker.

The project will include three high-rise buildings in total, and was designed by British Squire & Partners studio. The preparatory work should start in the third quarter of 2018, the construction by 2019, and the site should be ready in 2022.

As part of the building permit agreement, J&T Real Estate will build a retirement home in Southwark Park Road with 57 flats, which will be handed to United St. Salvator charity after completion.

Related Articles

Slovak president says Russia’s pro-Putin Night Wolves' base is a security threat

Russian nationalist and staunchly pro-Putin motorbike club the Night Wolves’ base in Slovakia is a risk to the safety of the country and a mockery of Bratislava’s policy on Russia and Ukraine, ... more

United Group announces €100mn investment in local content in SEE

Telecoms and media provider United Group, owned by US investment firm KKR and the European Bank for Reconstruction and Development (EBRD), announced on July 21 it plans to invest €100mn in local ... more

V4 countries boycott EU emergency migration summit

Czechia, Hungary, Poland, and Slovakia did not attend an emergency meeting of other EU leaders on migration on June 24 in a joint boycott that was a manifestation of disdain for the EU’s ... more

Dismiss