Chinese developer R&F Properties and CLS Holdings have exchanged contracts on a £157.77m deal to buy a 3.4 acre site in Vauxhall for a major new development scheme.
The site called Vauxhall Square has planning permission for a 1.5 million square foot mixed-use residential led development involving eight new buildings. Two 52-storey towers will house 578 apartments and two big office blocks will be built around a new public square.
R&F Properties is expected to commit approximately GBP1 billion to the scheme.
