Lambeth Council approves 2 billion pound Vauxhall Square masterplan

Lambeth Council has approved planning permission for the £2 billion Vauxhall Square masterplan, a seven-building scheme containing 1,097 residential units, 1,164 co-living apartments, 699 student beds and a 250-room hotel. The project is managed by development manager Bmor and sponsor Cedarstone Capital Partners, with equity backing from Dubai-based GFH Financial Group and senior debt provided by Cheyne Capital.

Scale of the primary tower

The 3.8-acre development features a primary 69-storey tower measuring 230 metres. Construction Enquirer reported that the structure will rank as the UK's second-tallest residential building behind the 239m Landmark Pinnacle tower in Canary Wharf.

The site previously belonged to Chinese developer Guangzhou R&F Properties, which acquired the land from CLS Holdings in 2017 for approximately £158 million. Constructing London and BE News reported that Guangzhou R&F Properties sold the site to Cedarstone Capital Partners in May 2024.

Delivery mechanisms and planning terms

Housing Today and Vision for Vauxhall noted that the scheme utilizes the Mayor of London's Time Limited Route planning option to deliver 25% affordable housing by habitable room on-site. This provision is supplemented by a £210 million developer contribution directed to offsite affordable housing.

The approval unlocks a long-stalled central London site, expanding institutional capital scale across build-to-rent, co-living and student housing along the Nine Elms corridor.

Political friction and environmental objections

The Evening Standard reported that Lambeth Council's Planning Applications Committee passed the proposal in a 4-3 vote. The narrow margin followed criticism regarding the reduction of on-site affordable housing from 35% to 25%, alongside committee concerns over Whole Life Cycle carbon emissions.

For our readers, the reliance on a £210 million offsite cash contribution rather than higher on-site delivery presents a policy framework to monitor, given the close vote within local authority planning committees.

Construction schedule and milestones

According to Construction Enquirer and Housing Today, enabling and construction works across the seven plots are scheduled to begin in January 2027. Developers have targeted full completion of the masterplan for February 2032.