Third.i acquires site for their second major development in London

Australian property developer, Third.i, has acquired its second major mixed use development site in London, which is located on Vauxhall Walk, and has full planning permission for 160 new homes and vast co-working office spaces for residents and local businesses.

The company acquired the 279,900 sq ft site, which is currently made up of disused office buildings, warehouses and church buildings, from Bmor, who had acted for the previous owners in obtaining the planning permission for the development.

With a GDV of circa £200,000,000, the development scheme is set to be called Graphite Square. Planning permission has been granted by Lambeth Council for 110 one to three-bed private new homes, 50 one to three-bed affordable homes, over 80,000sq ft of co-working space across four floors, three residential buildings ranging from nine to thirteen storeys in height, fourteen disabled parking spaces, a Methodist Church and landscaped communal gardens with elements to enhance biodiversity.

Third.i is working with internationally renowned architect, Ben Adams Architects, who are focusing on blending Graphite Square seamlessly into the local area with an industrially inspired design concept that celebrates Vauxhall’s heritage past. Whilst workspace creator, Halkin, has signed a long term lease to manage and deliver the turn-key office / co-working spaces that will boast state-of-the-art technology and facilities for over 1,000 people.

Meanwhile, Third.i have partnered with Paragon Asra Housing to develop the affordable homes, fourteen of which will be available to purchase under shared ownership and 36 for affordable rent.

This acquisition follows Third.i’s successful UK debut in Battersea in 2018 as it seeks to invest around London in residential, commercial, senior living and assisted living projects.

Luke Berry, Founder at Third.i commented: “We’ve been looking for exciting opportunities in London for some time, and Graphite Square is the perfect embodiment of our belief in creating better places to live, work and play. We instantly fell in love with the architecture and place making of the project, seeing it having an ageless appeal that will become a legacy project, one we all can be proud of. It’s a development which we believe can have an incredible effect on the Vauxhall area and the prospects of all its residents, and we are very proud to be working with partners who passionately share our beliefs and desire to make this happen. We all look forward to working closely with Lambeth Council and the local community to bring our plans to fruition.”