Major Bankside office development 'topped out'

Sylvia Auton, CEO, IPC Media, Jason Millet, CEO, Bovis and Francis Salway, group CEO, Land Securities

Bankside 1, a 499,000 sq ft office development on the corner of Southwark Street and Sumner Street, will provide a new UK headquarters for IPC Media (currently in Stamford Street), Time Warner Book Group and Time and Fortune magazines, when it is completed in spring 2006.

Special guests from the local community in Southwark, as well as figures from across the property industry and IPC executives, joined Land Securities at the top of Bankside 1 on Thursday to watch the ceremonial laying of the final piece of the construction.

The largest of three developments planned by Land Securities, Bankside 1 stands at 13 storeys. Designed by architects Allies and Morrison (whose Southwark Street offices overlook the site), the building comprises a full height atrium offering remarkable views of the capital from the higher floors. Angled fins on the surface of the building will provide constant shade to its occupants and create an innovative, shimmering coat to the exterior of the building that changes during the course of the day.

"Today we celebrate a milestone towards the completion of this magnificent new development," said Francis Salway, group CEO of Land Securities. "This is a major new landmark for London that will play a part in redefining the look and feel of this area. I am proud that Land Securities is playing a leading role in the redevelopment of this historic community for generations to come."