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South Bank Techopark at 90 London Road, Southwark was conceived, named and completed due to the former Director of South Bank Polytechnic (now LSBU), Dr John Beishon. It was the first technology centre of its kind to be developed by a Polytechnic and was funded by the private sector. Original finance came from the Sainsbury Foundation and Department of Trade & Industry in 1980 and later was financed by the Prudential Assurance Company to the sum of £7 million. Work began in the early 1980s and the Mayor and Mayoress of Southwark were invited to bury a time capsule to mark the beginning of work.
The first phase was opened 9 December 1985 by Geoffrey Pattie M.P. Minister of State for Industry & Information Technology. South Bank Technopark Phase II was opened 30th September 1987 by the Rt Hon Lord Young of Gaffham, Secretary of State for Trade & Industry. The building is still in use by London South Bank University and an Admissions & Recruitment Centre was opened in it on 4 October 2007 by Lord David Triesman of Tottenham, Parliamentary Under-Secretary of State for Intellectual Property & Quality.