A unique site on the Southbank of the Thames which has planning consent for a 94,000-sq ft residential development has been bought by Taylor Wimpey Central London for more than £30m.

The Palace View site is adjacent to the Archbishop of Canterbury’s Lambeth Palace and has consent for 55 luxury apartments, 14 affordable housing units, 7,900 sq ft of retail/office space plus other amenities including a gym, cinema and communal gardens.

Levy Residential Partner, Matt Sharman comments: “There was tremendous interest in the site. RER have designed a fabulous scheme with unspoilt views of Lambeth Palace, The Houses of Parliament, the London Eye and the Shard. It provides a great opportunity to develop a landmark building in an area where values continue to rise”.

Levy Real Estate and JLL advised the site’s owners, RER, on the sale.