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London, 14 September 2016 - The Residential Land and Development Team at JLL has been instructed to sell Nine Elms Square on behalf of Vinci St Modwen.The 10 acre site is located in the Nine Elms regeneration area, adjacent to the River Thames and the new American Embassy and has outline planning permission for a Skidmore, Owings and Merrill residential-led mixed use scheme with 1,915 residential units (4% affordable) over c. 2.3 million sq ft (GEA). The scheme comprises 12 buildings including a trio of iconic towers, extending to 54 storeys. Substantial investment has been committed to the Nine Elms area, which is directly beneficial to the site, including:
Simon Hodson, Head of the Residential Land team at JLL comments: “Nine Elms Square is a prime mixed-use development site at the heart of Nine Elms that when delivered will represent an exciting new chapter for the Vauxhall Nine Elms Battersea (VNEB) Opportunity Area. Located in a prime position and boasting unrivalled river views and future transport links, we have always anticipated interest from around the world due to its prominent position next to the new American Embassy. Throughout the year we have worked with ICG and our international colleagues across MENA, the US and China/Asia Pacific. It's going to be an interesting measure and test for London - after 7 years of acquisition and advisory work.” Over the last 10 years the JLL residential team have had considerable involvement in the 195 hectare Vauxhall Nine Elms Battersea (VNEB) Opportunity Area and advised on the rationalisation of the 57 acre New Covent Garden Market. The entire site now has planning permission for a new 550,000 sq ft modern market which will be funded by the release of 20 acres of surplus land to provide up to 2,800 new homes. Nine Elms Square will be the first of the surplus land to be released.
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