Thomas Heatherwick’s rather wonderful designs for a £150 million “garden bridge” across the Thames between the South Bank and Temple Tube might do rather wonderful things for property values on either side of the river.
The 1200-foot tree-filled span springs from semi-secluded spots on both banks. Spots which leading agent Alistair Subba Row says will greatly benefit. “The new bridge will provide a substantial economic benefit to the areas surrounding the proposed bridge landing positions at Temple and Coin Street,” says the senior partner at Farebrother.
“More than one million square feet of development is planned in the area over the next few years. I can quite easily see this part of South Bank rents getting to £60 per square foot and £70 on the North Bank”.
Way above present levels. Perhaps landlords could show their gratitude in the usual way: by chipping in towards the cost of the bridge.
* The garden bridge isn't the only floral construct in the offing - Soho is set to get it's own “garden staircase”. The wooden spiral structure will twist up to the fourth floor of a 64,000 square-foot Soho office refurbishment called Ampersand, launched this week by Resolution Property.
Staircase designer Paul Cocksedge says he “has created a series of hidden spaces at the open centre of the spiral, each devoted to its own specific activity — reading, drawing or picking fresh mint for tea”. You can’t even slide down the ruddy bannisters, because they’re saddled with planters. “Not merely for decoration,” says Cocksedge, “they are intended to be a working garden.” It has been bought by the Peterson group from Hong Kong as part of a £121 million deal. Fancy some space available next August? Grade A rents in Soho are now into the high seventies per square foot.
