Native Land has celebrated a key milestone in the construction of NEO Bankside, poised to become one of the most desirable residential addresses in the world.
Native Land, joined by co-developer Grosvenor, marked the development reaching its highest point in a topping out ceremony hosted by the company responsible for the construction of the building, Carillion.
Overlooking the River Thames and St Paul’s Cathedral, NEO Bankside is a new £400m world class residential scheme situated immediately adjacent to Tate Modern. NEO Bankside comprises 199 premium residences arranged over four state of the art pavilions set amongst richly landscaped gardens. The pavilions vary in height from 12 to 24 storeys and offer a considered selection of one, two and three bedroom apartments and some duplex penthouses.
Alasdair Nicholls, Chief Executive of Native Land commented: “By starting construction on NEO Bankside in 2009, it demonstrated the confidence that Native Land and Grosvenor has in London’s prime residential market. I am delighted that on reaching this key milestone, our confidence has proven well founded as the development has received very high levels of interest. To date, out of the apartments released onto the market, over 70% have been sold.”
Construction on the building began in January 2009 and the development is due to be completed in phases through to 2012.