Mitsubishi Estate has announced an £800 million investment to transform the former ITV Studio on London’s Southbank into a major hub for the creative industries, creating 4,000 new jobs. The redevelopment, named ‘Vista,’ will provide 600,000 square feet of commercial and cultural space, including 40,000 square feet of affordable workspace designed to support Lambeth’s emerging creative sector. The site will feature high-end offices, cultural venues, studios, galleries, and presentation spaces, along with discounted rents for qualifying tenants to help local businesses grow and strengthen the community.
The groundbreaking event was attended by Minister for Investment Jason Stockwood and Japanese Ambassador to the UK Hiroshi Suzuki, highlighting the strong investment relationship between the UK and Japan, with bilateral trade currently valued at around £31 billion. The project aligns with the UK government’s modern Industrial Strategy, which identifies the creative industries as a key growth sector and aims to make the UK the world’s top destination for creative innovation, increasing business investment to £31 billion by 2035.
Vista is designed with sustainability in mind, incorporating state-of-the-art environmental features and renewable energy to achieve top environmental ratings, supporting the UK’s ambition to become a clean energy superpower. Mitsubishi Estate, which has been investing in London since 1985, emphasized the project’s commitment to honoring the site’s cultural legacy while delivering a modern, sustainable, and inclusive workplace.
Coinciding with the 75th anniversary of the Southbank Centre, the investment is expected to reinforce the area’s status as a global creative hub attracting over 20 million visitors annually. The project also reflects the UK government’s Plan for Change, which seeks to drive long-term economic growth, attract investment, and provide stability for investors to plan over the next decade and beyond.
