The land under what is now ‘One Tower Bridge’ used to be a coach park owned by Southwark Council.

Southwark sold the land to Berkeley Homes in 2001 for £4m, but Berkeley sat on the land and banked it for 15 years before completing the development in 2016.

Land Registry

Title Plan

The agreed payment in lieu of providing affordable housing was £10m - a fraction of the scheme’s gross development value.

One tower bridge

Southwark has an ‘overage’ agreement with Berkeley homes, meaning that they will receive a ‘share’ of the final profit. We made an FOI request to the Council asking how much overage it had received. We didn’t get an answer.

One Tower Bridge