A partnership between Native Land Limited (NL) and Singapore listed Hwa Hong Corporation Limited (HHC) has purchased 15,000 sq ft of retail space at NEO Bankside for in excess of £10 million on a 999 year lease.
Together with the partnership’s earlier acquisition of Pavilion E, NEO Bankside, announced on 18 November 2013, NL and HHC now jointly own a total of approximately 21,700 sq ft of office and retail space at NEO Bankside, a £400m mixed use development on London’s Southbank.
With its strategic location adjacent to Tate Modern, NEO Bankside is an attractive proposition for retailers with high levels of footfall generated by tourists, office workers and local residents. One of the most high profile lettings to date is to Albion, the British restaurant and shop owned by Terence Conran.
Alasdair Nicholls, Chief Executive of Native Land, said:
“We are delighted to have consolidated our ownership with the retail units at NEO Bankside. It forms a key part of the South Bank’s cultural and leisure offer, a stone’s throw away from the Tate Modern and a short walk from St. Paul’s Cathedral and the City of London. We are offering retailers the opportunity to occupy a key site at the very epicentre of this dynamic and ever evolving neighbourhood.”
NEO Bankside is a multi-award winning mixed-use scheme, developed by Native Land and Grosvenor and designed by Rogers Stirk Harbour + Partners.