Grosvenor has published a draft masterplan for its vision to build around 1,500 new rental homes in the Bermondsey district of south east London.
There is an appetite for rental properties in the capital and this will see a £500M investment for the 12-acre former biscuit factory site.
Architects Kohn Pedersen Fox Associates have designed the project will place a 600-place secondary school at the heart of the new community, with more than 110,000 square feet of new public spaces and almost 20,000 square feet of new playspace. The project will also encompass 85,000sq ft of ground floor retail, food, leisure and culture would be added with shops, services and facilities open to the community. The project will see the creation of over 900 new jobs and is envisaged will be worth over £30M to the local economy.
Craig McWilliam, Chief Executive of Grosvenor Britain & Ireland, said: “London’s housing shortage is too often creating polarised outcomes, with homes for the few who can afford to buy them, and those allocated social rented accommodation. We are sharing our ambitions in Bermondsey to meet the needs of many on low and middle incomes who are locked out of London’s housing market. We want to help create one of London’s greatest neighbourhoods for people of mixed incomes, backgrounds and life stages. We want to manage these rental homes for the long term, responding to changing needs and extending Bermondsey’s rich history at the heart of a growing, global city.”
Source – UK Construction Online