Development and asset manager Stanhope has appointed Mace Construct as main contractor to build its Bankside office scheme, with a £450m gross development value, on the South Bank in central London.
CGI of Stanhope’s Southbank office development
Red Lion Court, located between London Bridge and Southwark Bridge, will include around 250,500 sq ft of office space.
Designed by Bjarke Ingels Group, the scheme will comprise two basement levels and 11 floors above ground on a 1.24-acre site.
As well as offices, the plans also include a 1,000 sq ft café space, club room and wellness centre, as well as 719 bike spaces and 54 showers.
Mace has started enabling and piling works, with the main build construction phase due to start in Q4 of this year and practical completion targeted for early 2029.
Stanhope acquired the site from Landsec in September 2025, alongside alternative investment fund manager Cheyne Capital.
Landsec, which in February revealed plans to sell £2bn worth of offices to fund an expansion into the residential sector, secured planning consent for an office scheme with retail and public space on the Red Lion court site in 2023.
The tower will be all-electric with the goal of achieving net zero emissions operationally, targeting BREEAM ‘Outstanding’ and NABERS UK 5* certifications.
Tony Wall, head of development at Stanhope, said it has partnered with Mace on “some of London’s most iconic buildings,” including the Woolgate Exchange in the City and the mixed-use redevelopment of former BBC headquarters Television Centre in White City, west London.
“Red Lion Court is set to be another landmark development and awarding this contract shortly after acquiring the project last year allows us to work to a timetable that delivers this prime new office space at a time when the market will be amongst its most constrained in terms of supply,” Wall added.
“With a world-class project team now in place, we look forward to working with Mace and turning our vision into reality.”
Ged Simmonds, managing director for commercial at Mace Construct, said: “We are immensely proud to be entrusted with the delivery of Red Lion Court, a project that will set new benchmarks for sustainable and innovative workplaces in London.
“We are excited to work in close partnership with Stanhope to realise their vision, leveraging our expertise in disciplined delivery to ensure an outstanding result for the occupiers and surrounding community.”
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