South Bank investment marks new era for Lambeth’s creative economy
Councillor Adilypour addresses stakeholders at the ceremony, a group of stakeholders, including Cllr Adilypour and Deputy Mayor Howard Dawber, in hard hats at the Vista South Bank construction site during the breaking ground ceremony, CGI image courtesy of Make Architects
Lambeth has long been a borough of innovation and creativity, with the South Bank at its heart. Construction is now underway on the £800 million redevelopment by Mitsubishi Estate, transforming the former ITV Studios site into a world-class hub for the creative industries. The breaking ground ceremony marked an exciting next step in this vision.
The redevelopment, known as Vista, will deliver more than 600,000 sq ft of commercial and cultural space, including 40,000 sq ft of affordable workspace reserved for emerging creative organisations. The project is expected to create around 4,000 jobs, cementing Lambeth’s role as one of the UK’s leading destinations for cultural and economic growth.
The breaking ground ceremony brought together guests from Lambeth Council, Mitsubishi Estate, and development partner CO-RE, alongside other stakeholders and community representatives. The event marked the start of construction and celebrated the shared vision for the South Bank’s future as a centre of creativity and innovation.
Councillor Danny Adilypour, Deputy Leader of Lambeth Council, said:
- This flagship development shows the strength of Lambeth’s creative industries and the confidence investors have in our borough. Importantly, it will provide affordable space for underrepresented groups and emerging talent, ensuring the next generation of creatives can thrive alongside world-renowned cultural institutions.
CGI images courtesy of Make Architects
Lambeth is already home to a thriving creative sector, contributing over £500 million each year to the UK economy, with more than 17% of the borough’s workforce employed in the industry.
Mitsubishi Estate’s vision for Vista is closely aligned with the council’s Lambeth Growth Plan, a 10-year blueprint for inclusive, sustainable growth. The Growth Plan also prioritises equity and inclusivity, values clearly reflected in the Vista project. By providing discounted rents for creative organisations and a platform for underrepresented voices, the development ensures the South Bank remains not only a global destination but also a place that nurtures local talent and creativity.
“This is about more than a building, it’s about ensuring Lambeth’s creative and cultural centre remains accessible, resilient, and globally competitive,” added Councillor Adilypour.
With developments like Vista, and the council’s continued focus on inclusive growth, Lambeth is setting the stage for a future where culture, innovation and opportunity work hand in hand, for the benefit of both local people and the wider UK economy.