This New Luxury Tower, Which Will Be Built In The Shadow Of The Shard, Is Another Sign Of London's Housing Boom

A new London skyscraper, over 180,000 square ft and rising 26 stories high, has been approved by a local council.

The structure will feature 148 high-end apartments set above London Bridge Station — though nestled in the shadow of The Shard, Western Europe’s tallest building.

It will provide prime — and probably expensive — housing in one of the city’s most revered areas as the housing market continues to boom.

On Wednesday Southwark Council voted unanimously in favour of the project, writes the Financial Times, paving the way for the capital’s latest luxury development.

It’s going to be designed by Renzo Piano, the architect behind The Shard as well as structures such as Rome’s Parco della Musica and The New York Times Building, and led by the Stellar Property Group (SPG) and Qatari Diar, a subsidiary for the country’s sovereign wealth fund.

It is the latest addition to the London Bridge Quarter and replaces the 1950s building Fielden House, which is home to the London Ambulance Services, the FT says.

SPG writes there’s likely to be “substantial interest” in the flats, and Southwark Council notes a commitment to providing affordable housing as part of the project.

But residents’ concerns have also been reported, with many fearing the apartments will sit dormant while local people “are priced out of the area.”

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