Published: 07/10/2020The Evening Standard Homes & Property article, Wednesday 7th October 2020
Riverside homes with balconies near Tate Modern come with social and co-working space, discovers Ruth Bloofield
From £750,000: homes at the new £400 million Triptych Bankside scheme all have balconies and the finished development will offer cinema, cafés, communal garden and co-working space. With landmark views, Triptych Bankside is just a 10-minute walk away from the City (triptychbankside. com)
BANKSIDE, a one-and-a-half mile stretch of the south bank of the Thames with Tate Modern dominating the skyline, is rapidly gaining tall and elegant neighbours for the gallery, turning this busy, colourful area into a residential hub.Developers need to bear in mind the changes that Covid-19 is imposing on buyers who are now seeking homes and neighbourhoods to support their work-from-home lives. Londoners expect flats with lots of well-designed inside and outside space, generous landscaped areas for social gatherings and crucially, communal workspace, in case they have to hunker down for weeks or months on end.
A stone’s throw from Tate Modern is newly launched Triptych Bankside (triptychbankside.com), where London architects Squire & Partners are ahead of the game. Each of the 169 homes within three wavy-fronted blocks of nine, 16, and 18 storeys has a private balcony. When completed in 2022, the £400 million scheme will have a communal garden, on-site gym, private lounges, games room, co-working space and cinema. There will be offices, independent cafés and shops and a cultural facility, all a 10-minute walk to the City.
Prices start at £750,000 for a studio flat, with penthouses starting at £9,715,000. “The early interest has been great, 18 apartments sold immediately,” said Juraj Marko, managing director of developer JTRE London. “This demonstrates the appetite that buyers have for the area and a scheme that can provide great design, all in a prime location.” Nick Pearce, MD of estate agents Circa London, shares Marko’s optimism about Bankside, as investment pours into the area. Work has just finished at 50-storey residential tower One Blackfriars just south of Blackfriars Bridge, and work has just begun on £1 billion Bankside Yards, set to join Bankside and the Southbank, creating a spectacular new skyline. This project includes a 49-storey tower with 240 homes and an office building. A row of 14 existing railway arches will be renovated with new shops and restaurants by 2022.
The second phase of developer Native Land’s project will add more homes, a hotel and new open space including a stairway to the riverfront making it possible to walk along the Thames all the way from the London Eye to Tate Modern and beyond. “It is going to be unrecognisable,” said Pearce.
Workers in the City and around Waterloo who are keen to live nearer their offices, welcome these homes and are being joined by retirees who enjoy the bright lights, plus overseas investors buying for children studying in London. New flats dominate, with the occasional warehouse scheme and a handful of whole houses. Property costs an average £1,100 to £1,600 per square foot, although a new home with a river view could well top £2,000.
As well as excellent transport links from Blackfriars, Southwark and Waterloo stations, Bankside has fantastic culture. The post-war rebirth of former industrial Bankside has been very much arts-led. The modern reconstruction of the original Globe opened in 1997. Three years later Tate Modern opened in a former power station and is now Britain’s most visited gallery or museum.
In 2004 a former confectionery plant became the hugely popular off-West End theatre, the Menier Chocolate Factory. The Tate has been extended with a 213ft pyramidshaped tower, fashionable bars and cafés. Southbank Centre goes from strength to strength — and Bankside Yards will bring in the shops.