Planning permission has been granted to Grosvenor for its Bermondsey build-to-rent scheme, which includes 1,548 new rental homes, 482 of which will be affordable
Planning permission for the Bermondsey build-to-rent scheme follows the decision by the Mayor of London in May 2019 to call in the application and act as the planning authority for the development.
The new designs provide 1,548 rental homes of which 35% will be affordable housing, with 30% at social rent equivalent and 70% at discounted market rent.
- The first phase will deliver 359 rental homes, of which 35% will be affordable, as well as the delivery of the new 600 pupil secondary school and 8,155 sq ft of employment space
- Former biscuit factory to be transformed into a new neighbourhood anchored by over 1,500 homes for rent, including 35% affordable
- 3 acres of public and play space, 141 new trees and no private cars on the site
- Circa 1,400 jobs created on completion and a further 1,500 during construction.
Alongside new homes and a school, Bermondsey will now benefit from substantial new play and public spaces. Local businesses will enjoy greater footfall and an estimated increase of £22m to spend each year.
New job opportunities will be created through 150,000 sq ft of flexible employment space, creating a lasting social and economic legacy for the neighbourhood.
Becoming a part of the community in Bermondsey
Simon Harding-Roots, executive director of major projects, Grosvenor Britain & Ireland, said: “This project speaks directly to our purpose as a business – to bring lasting social and commercial benefit to the communities where we work.
“All the approved homes are for rent, and none are for sale. Every home will be occupied and managed by a responsible landlord with a genuine long-term interest in ensuring the neighbourhood thrives.
“Since 2013 we’ve worked hard to become part of the community in Bermondsey and we are incredibly excited to get the green light for this development. I would like to thank local residents, the school, Southwark Council and the GLA for all their help contributing to these proposals.
“We are committed to the area and will ensure that the transformation of the biscuit factory happens quickly and directly supports all those living and working in this part of the borough.”
Plans to make this a sustainable neighbourhood
It will be car-free for residents and be built to stretching net-zero carbon, zero waste and biodiversity goals.
The resolution to grant planning permission follows seven years of extensive engagement with the community, local organisations, the London Borough of Southwark and the GLA.