Creating a High Quality Business District

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1 Date Month Date Month Friday 7 November 2014 Nine Elms on the South Bank A Bilfinger Real Estate company Creating a High Quality Business District New London Architecture

2 Introduction Nine Elms Vauxhall Partnership commissioned investigation Key questions: What is the economic role of the Opportunity Area What are the economic and employment development drivers and dynamics What sectors, occupiers and space types will be attracted What are the economic roles of: Albert Embankment Area, Vauxhall, Battersea Organisational action steps

3 The Headlines Nine Elms on the South Bank will be a strong and diverse economic location Place and image is being led by residential and leisure Private sector confidence in commercial opportunity The economy will grow from the existing economic base and expansion of central London There will be a diverse range of occupiers and spaces This will include existing and a significant amount of new space

4 Diverse Uses and Business Locations

5 An Existing Hub of Significant Activity 1,000 businesses 30,000 jobs

6 Realising the Opportunity Foundation for Future Economic Success Rich mix of existing business and amenities Labour market reach and diverse population Rapidly emerging destinations Albert Embankment Area and Vauxhall US Embassy potential clustering of international business The Food Market / New Covent Garden Market The Power Station Early delivery of place via major residential Growing leisure offer Evening economy, galleries, climbing cluster

7 Realising the Opportunity Central London Location 8 Minutes to Oxford Circus 3 minutes to Victoria 4 minutes to Waterloo Regional rail connections Southern and Southwest Rail 40 mins - Heathrow 40 mins London City

8 Realising the Opportunity London Economic and Commercial Space Drivers London economic output to grow by 200bn by 2031 London employment growth of 750,000 jobs Diversification of economic base and new sectors Rising rents in competing markets and CAZ fringe Businesses being priced out of traditional locations Lease cliff high rate of breaks over next five years High churn period coming Known pipeline of supply competitive price opportunity

9 Realising the Opportunity Nine Elms on the South Bank will capture its share of London s growth Corporates regional HQs Public Sector Information and Communications Technology Professional and Business Services Creative Industries

10 Realising the Opportunity The area will grow existing sectors Security Food Information and Communications Technology Professional and Business Services Creative Industries Public Sector Leisure and entertainment

11 Realising the Opportunity New infrastructure and place making will attract occupiers Northern Line Tube extension Vauxhall Gyratory upgrade Vauxhall, Rail, Tube, Bus Interchange Pedestrian and Cycle Bridge Pedestrian Connections Linear Park Missing Link

12 Significant Consented Pipeline Use Class Activity SQM A1 Shops 115,000 A2 FPS 500 A3-A5 Dining 47,500 B1 Office 280,000 Flexible Employment 95,000 Total 538,000 25,000 + jobs

13 The Future Business District

14 Three Economic Zones Albert Embankment Area Extending the South Bank Vauxhall A thriving central city business district Battersea A new destination Key components are being delivered, planned Infrastructure Open space and public realm Leisure, retail

15 Local Character Areas within Nine Elms on the South Bank The Recommended Strategy is structured to address Nine Elms on the South Bank as a whole and also focused on providing recommendations for each of the Albert Embankment Area, Vauxhall and Battersea. This is to reflect differences in current character and urban grain, the scale of individual land parcels being addressed, development emphasis and relationship to public transport particularly current rail and future tube stations. Albert Embankment Area Vauxhall Battersea Stations Waterloo and Vauxhall Vauxhall and Nine Elms Battersea and Queenstown Rd Structure Finer grain, rail infrastructure Large sites, highway infrastructure Large sites, large footprints Streets Local and arterial Arterial Arterial Use Office, small business, hotel, resi Residential, office, small bus Leisure, residential, retail, office Landmarks Tall buildings Tall buildings, MI6 Battersea Power Station Identity Employment, edge of centre Transitioning New

16 Future Business District

17 Albert Embankment Area Promote the existing business base An active retention or OAPF relocation strategy Use of arches for permanent and interim activity Integration of leisure assets Green spaces Galleries Activated frontage along Albert Embankment Links across rail lines - attractive north-south route

18 Vauxhall Leverage business and footfall drivers US Embassy New Covent Garden Market Recognise NCGM key in creating identity A driver of footfall in the long term Unique retail and dining Business incubator link to move on space Encourage a range of floorspace types Good quality small offices Larger opportunities to establish critical mass Flexibility

19 Vauxhall Tap into full range of retail audiences Existing residents across wider area New residents Commuters Workers Visitors and hotel guests Learning the lessons of central city employment districts and major rail stations Dining Leisure Food - Convenience Apparel Personal Services Electronics Health Household

20 Battersea Establish Local Supply Chains NCGM and food Creative Industries Advance Economic Role Opportunity for new types of workspace BPS hub for a new economy Non-office based activity Strategic industrial land Retain diverse floorspace stock Workshops Hybrid units Studios Accommodate locally relocating businesses

21 Conclusion Nine Elms on the South Bank is in the central city. It should be recognised, promoted, managed and delivered as such; Vauxhall is a destination as well as a pass through Interchange, given the jobs, residents and passengers that arrive and will work here it is a key point of arrival and a gateway for the wider area, particularly before the Northern Line Extension is delivered; Gateways are key points of arrival, first impression and sales. The design and experience of stations, bridges and highways should be of a world class central city business district standard; The river path is key. It will become a major pedestrian thoroughfare for residents, workers and visitors, particularly with the creation of a new pedestrian bridge across the Thames; Organising to compete with single owner, single authority schemes in the CAZ will enable success

22 Date Month Date Month Friday 7 November 2014 Nine Elms on the South Bank A Bilfinger Real Estate company Creating a High Quality Business District New London Architecture

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