Carlyle to build £2bn mixed-use property in London
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Carlyle to build £2bn mixed-use property in London

07 Nov 2011

US-based private equity company Carlyle is planning to invest £2bn in a mixed-use building project next to the Tate Modern art gallery on the south bank of London's River Thames.

US-based private equity company Carlyle is planning to invest £2bn in a mixed-use building project next to the Tate Modern art gallery on the south bank of London’s River Thames.

The designs have been developed by PLP Architects and include about 300,000ft2 of offices, 200,000ft2 of shops and more than 1,000 flats in blocks of 30 storeys.

The company will submit plans for the 1.5 million-square-foot project to Southwark Council within the next six months.

The company bought six properties out of administration in July 2010 for £670m, out of which it plans to knock down two on the south bank of the River Thames as part of the project.