A pane of glass fell about sixteen floors of a £400 million luxury apartment complex on the South Bank before hitting the ground “just metres away from a passer-by”.

Neo Bankside Management Company (MANCO) has admitted to having knowledge of the broken glass in Building B since it took responsibility for the property in 2017.

The incident has since been described as an “accident in the making”, with one tenant claiming the board had “buried its head in the sand”.

A MANCO spokesman said the company “takes its responsibilities very seriously” and “solving this complex problem has always been a priority.”

At 9am on Monday 1 July, unsuspecting pedestrians were astonished to hear a “huge bang” on Holland Street – next to the Tate Modern.

According to a tenant, glass fell from an elevator shaft nearly 60 meters above the penthouse floor and shattered on the floor below.

The area at ground level had already been cordoned off, allegedly because people had previously noticed the glass breaking.

A witness said The art newspaper: “It was unreal. I was walking from Blackfriars to my office in Southwark Street and saw that part of the pavement was cordoned off. So I crossed the road and just as I got to the other side I heard a huge bang behind me.

“I turned around and saw that there were broken glass on the street. Luckily no one was hurt, but some of us just stood there and watched, shocked at what had happened.”

A post on X said it landed “about 10 feet away from me this morning.”

Katherine Hardy, who witnessed the aftermath, said security forces were called to escort spectators away.

“There were quite a few men in suits with lanyards,” she said. “A security guard was turning people away.”

But questions have already been asked.

Neo Bankside is a luxury mixed-use development by developer Native Land, with property prices starting at £22 million.

It has now emerged that residents had noticed the cracks in the glass in the elevator shaft since at least 2013.

In 2017, the developer Native Land transferred the building to Neo Bankside Management Company, whose directors are all tenants.

Directors reportedly considered solutions such as a gantry crane, special “film” treatment and complete replacement, estimated to cost up to £6 million.

However, none of the options were taken up.

One tenant, who wished to remain anonymous, said: “The management company has buried its head in the sand. They did not expect the worst case scenario to happen, and then it happened.”

“I see children using the area next to the elevator shaft to smoke. Imagine if the elevator fell on them.”

Southwark City Council issued a structure hazard notice on 10 July and called for the problem to be remedied.

The Southwark Liberal Democrat group claims it had previously warned Labour-led Southwark Council about concerns about the windows.

Liberal Democrat councillor Irina Von Wiese accused the council of failing to “monitor and hold the private developer and owners of Neo Bankside to account”.

She added: “For years, local residents and my Liberal Democrat colleagues have warned of this impending disaster, so it is alarming to learn that the council has only taken action after those warnings became reality.”

Labour councillor Jasmine Ali responded that the council “holds developers and landlords to the highest standards”.

“Following our enforcement order, our building inspectors are actively engaging with the owners and urging them to ensure that appropriate measures are taken to ensure the safety of residents and the public,” she said.

The tenants of Neo Bankside are already known for their successful legal battle with Tate Modern over visitors peering into their buildings from the gallery’s viewing platform.

Five owners of four apartments took the case to court, and in 2023, after a six-year legal battle, the Supreme Court ruled that Tate Modern was liable for “nuisance” to the residents of the luxury apartments.

A MANCO spokesperson issued a statement saying: “Manco has worked hard to identify and resolve the glazing issue since being given responsibility for the day-to-day operations of the development in June 2017.

“Manco takes its responsibility very seriously and solving this complex problem has always been a priority. Since 2017, Manco has been working proactively with professional consultants and specialists to identify the root cause and find the most appropriate permanent solution (none of which has been ruled out so far).

“In the meantime, as explained, Manco has implemented a number of temporary security measures in accordance with the professional advice received, which will be regularly reviewed and amended as necessary.”

A Native Land spokesperson said: “Native Land has not been involved in the ownership or management of the buildings since the handover to NEO Bankside Management Company Limited on 18 April 2017. It would therefore not be appropriate for Native Land to comment.”