Guy’s & St Thomas’ Foundation has appointed London Square as its first development partner at Royal Street, a new district in Waterloo.
The site is in the SC1 London’s Health and Life Sciences Innovation District, a growing cluster designed to connect healthcare, research, technology and data to improve health outcomes locally and globally. The recently published strategy for the District includes more than one million sq ft of workspace, supporting up to 6,200 jobs and potentially unlocking over £3billion of investment.
The residential element forms a key part of the 5.5-acre site, with London Square set to deliver 133 new homes, with 50% provided as affordable housing. These will sit alongside new commercial and retail space, as well as major improvements to the public realm next to some of London’s most important hospitals and transport connections.
Works are expected to begin in spring 2027, subject to regulatory approvals.
Adam Lawrence, CEO, London Square, said: “Royal Street’s masterplan is an exceptional scheme of international scale and significance. As this district grows, it is vital that high-quality homes and affordable housing sit alongside it, ensuring that local people who power London’s health, research and public services can live close to where they work. Through our partnership with the Foundation, we look forward to delivering a new mixed tenure, low-carbon neighbourhood at Royal Street which will become a vital and hugely beneficial part of the innovation district.”
Laurie Lee, Chief Executive at Guy’s & St Thomas’ Foundation, commented:“Forming our first development partnership at Royal Street is a milestone moment for the project. We’re pleased to be working with London Square, which has a strong track record of delivering exceptional homes across the capital.
“Together, we are advancing a landmark project that will support inclusive economic growth, deliver a healthy neighbourhood and provide high-quality housing for local people and valued key workers.”
London Square is one of the capital’s most active property developers, with a track record of delivering mixed-use, multi-tenure schemes at pace. In 2026, the business will have 25 live schemes across the capital delivering over 5,600 homes for sale and for rent, including around 40% affordable.
