The Guy’s and St Thomas’ Foundation, renowned for its billion-pound endowment, has announced a landmark office development at Old Paradise Yard, poised to become a beacon of growth and opportunity in the South Bank.

This significant development is set to reshape the borough’s landscape, replacing the current cultural hub with a modern office complex. The initiative promises to inject vitality into the local economy by creating over 6,000 new jobs and attracting substantial investment.

The foundation, a major benefactor for the Guy’s and St Thomas’ NHS Trust, is at the helm of this project, which is part of a comprehensive plan to enhance community infrastructure and support sustainable development. The plan has received the green light from Lambeth council and is currently under review by the Secretary of State, with the community eagerly anticipating the progression of this transformative venture.

The redevelopment of Old Paradise Yard is expected to set a new precedent for urban regeneration, combining economic development with the creation of new affordable homes and advancements in healthcare facilities, thereby cementing the South Bank’s reputation as a hub for future innovations.