Oxford Properties, Reef & Partners and Guy’s & St Thomas’ Foundation have secured full planning consent for the Snowsfields Quarter after finalising a S106 agreement with Southwark Council.
Located next to Guy’s Hospital at the heart of the SC1 London Health and Life Sciences Innovation District, Snowsfields Quarter will deliver approximately 360,000 sq ft of multi-functional space, including 245,000 sq ft of cutting-edge laboratory facilities.
Laurie Lee, chief executive of Guy’s & St Thomas’ Foundation, said: “Snowsfields Quarter has the potential to be transformative for Southwark, creating high-quality jobs for people living locally as well as delivering research that can improve health outcomes for everyone. The foundation has been investing in healthier lives for Southwark and Lambeth residents for over 500 years. This development will contribute to ensuring the SC1 London Health and Life Sciences Innovation District continues to attract cutting edge science, technology and life sciences companies to the area.”
Alexandra Austin, executive member for new homes and public works at the London Borough of Southwark, added: “Snowsfields Quarter is a great opportunity to establish this part of our borough as a world leading health and life sciences district, but more than that, our Section 106 agreement with developers will provide a range on benefits for local people.
“From the creation of 890 jobs, which we will support local people to get access to, and a significant boost in the local economy, to S106 funds for improvements to Guy Street Park, environmental works to the neighbouring estate to increase green space and improve security, and a re-provided theatre space and pub to bring in more nighttime economy to the area, we have ensured SC1 London will be create new jobs and high quality spaces in a neighbourhood designed to support health and wellbeing.
“We look forward to continuing to work with our partners to realise the long-term benefits that Snowsfields Quarter will deliver, ensuring that local communities and businesses help shape, and benefit from, the opportunities created by growth in the health and life sciences sector.”
Professor Graham Lord, SC1 London co-chair, executive director of King’s Health Partners and senior vice-president, health and life sciences at King’s College London, said: “This is a positive step forward for SC1 London. These world class facilities support our shared ambition to drive medical innovation and advance research that improves health outcomes for communities across south London and beyond.
“As well as providing space for cutting edge research and discovery, developments across the district have huge potential to support inclusive growth, creating opportunities for local communities to shape and benefit from the growth of the health and life sciences sector.”
