Waterloo office news 18th November 2013

While it has been a bumper year for the South Bank, with record levels of office space take up and investment, last week's High Court ruling of a judicial review for Elizabeth House and the impending public inquiry into the proposed redevelopment the Shell Centre, serve to highlight the continued stalled progress in Waterloo, one of the most important sub markets in the South Bank,” writes Julian Hind, Farebrother’s head of office and residential leasing, sales & development.

 

Waterloo is London’s busiest station, with tens of thousands of commuters arriving each day. However, it continues to lag behind its counterparts, such as London Bridge and King's Cross, both of which act as hubs for high quality retail and grade A office stock. In our view, the further loss of B1 space around Waterloo is also undermining the area’s potential as a thriving work location, two recent examples are Urbanest transforming the York House office block into student accommodation, and the acquisition of Hercules House for another Park Plaza hotel.



Waterloo station itself still seems to be suffering a hangover following Eurostar’s departure, and despite the recent opening of some new retail units, the concourse and immediate vicinity around the station look tired and in desperate need of renovation and fresh amenities.



As the Gateway to the South Bank, arguably London's most diverse and vibrant market, it is surprising to see Waterloo struggle to fulfil its potential as a commercial and retail hub. With demand from occupiers showing little sign of abating, we hope that in 2014 we will see positive steps forward and the right space starting to be delivered.