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Green light for 1,945 student homes near Tate Modern
Southwark Council has granted planning permission for a 1,945-bed student housing scheme.
Southwark Council has granted planning permission for a 1,945-bed student housing scheme #UKhousingThe London School of Economics and Political Science (LSE), in partnership with developer Bouygues UK and investor Equitix, has received approval for its Bankside House redevelopment project.
The project will involve replacing an existing office conversion with a purpose-built student accommodation (PBSA) scheme containing 1,945 beds.
The scheme will be located at 24 Sumner Street, close to the Tate Modern and the South Bank.
It will comprise three stepped towers of 24, 26 and 28 storeys, linked by two low-rise pavilions. Public routes will connect Sumner Street with the wider South Bank quarter.
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The investment supports LSE’s 2030 strategy goal to offer 6,000 university-controlled bed spaces and guarantee an accommodation offer to every new first-year student.
LSE has more than 12,000 full-time students, around 60% of whom rely on London’s private rental market for accommodation. The Bankside redevelopment will make a major contribution to closing that gap, Bouygues said.
All student rooms will be offered at sub-market rents, with 15% of bed spaces meeting the London Plan’s definition of affordable student accommodation.
The scheme will target Building Research Establishment Environmental Assessment Method (BREEAM) ‘excellent’, with an aspiration to achieve an ‘outstanding’ rating. It will also aim for Passivhaus certification for operational energy performance.
The scheme will be all-electric, with insulation and rooftop solar panels.
Other community benefits will include a publicly accessible community hub curated by LSE, community classrooms for local education partners in Southwark, and a public cafe and independent retail unit.
Bouygues will submit its Gateway 2 application next, ahead of a planned start on site in 2027. The scheme is scheduled to open before September 2032, to welcome its first cohort of students at the start of the academic year.
Oliver Campbell, managing director, development at Bouygues UK, said: “Securing planning permission for Bankside House is a landmark moment for Bouygues UK and for the student accommodation sector in London.
“In partnership with LSE and Equitix, we’ve developed a scheme that puts affordability, sustainability and community at its core.”
Julian Robinson, director of estates at LSE, said: “This is the culmination of a 10-year engagement with the borough on the redevelopment of our Bankside residences.”
Earlier this month, Camden Council said it must explore partnerships with institutional funders to build more homes, including PBSA.
In December last year, Blackstone also received planning approval to build 600 student beds and 71 social rent homes in south London.
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