London-listed investor CLS has revealed plans to redevelop a 12,000-m2 HQ site at Vauxhall Cross, adjacent to the Vauxhall station, in South London. CLS is proposing a 111,500 m2 redevelopment project with an expected development cost of £250 mln (EUR 295 mln).

The scheme has been designed by leading architects Allies and Morrison and is proposed to include a major new public square, over 18,580 m2 of office, a 300-bed hotel, over 7,500 m2 of retail with restaurants and bars as well as over 400 residential apartments in two towers of over 40 storeys and a six-screen cinema.

The Vauxhall Cross project, whose detailed planning application will be submitted in late 2011, is the latest development announced in London this month after Doughty Hanson RE and Terrace Hill's One Howick Place, British Land and Oxford Properties' Cheesegrater tower as well as LaSalle IM and Curtis Real Estate's White Hart Lane development.

According to a news report in the FT, several parties have also submitted offers for the £300 mln development site of Shell's London headquarters. Bidders include a joint venture of Canary Wharf Group and Qatar, Land Securities and Berkeley Homes as well as Helical Bar with Aviva and Native Land.