Southwark Council has granted planning permission for the £600m mixed-use regeneration scheme on London’s Old Kent Road
Landowner Aviva Investors, in conjunction with London developer Galliard Homes, has received a Resolution to Grant planning permission from Southwark Council for their proposals to regenerate the Cantium Retail Park into a new £600m mixed-use destination for the Old Kent Road. The proposals include a 48-storey residential tower, which will become the fourth tallest residential tower in London once complete.
Situated at 520 Old Kent Road, the 1.9-hectare Cantium Retail Park will be redeveloped to provide a series of new buildings ranging from three to 48-storeys, designed around a new public square, pedestrian boulevards, piazzas and landscaped areas, fronting onto a new linear park.
The new destination will provide 1,113 new homes, including apartments, maisonettes, penthouses and townhouses.
The Old Kent Road development will provide one hectare of new public open space in the form of a linear park with trees, planting, parkland, water features and pedestrian boulevards.
The new development will have a six-year construction programme.
Helen Rainsford, senior director at Aviva Investors said: “Aviva Investors is pleased planning consent has been granted for the regeneration of Cantium Retail Park. Working with Galliard Homes, we believe we can create a superb residential-led mixed-use development that will transform the site for the benefit of the local area.”
Stephen Conway, executive chairman of Galliard Homes added: “Galliard Homes is delighted to be working with our partner Aviva Investors to deliver another major regeneration project in Southwark, creating a vibrant new destination on the Old Kent Road.
“The regeneration of Cantium Retail Park will serve to kick-start the wider planned regeneration and transformation of the entire Old Kent Road into a vibrant new high quality commercial, retail and residential destination for South London.”
The council has a masterplan known as the Old Kent Road Action Plan which aims through regeneration to transform the thoroughfare into a new urban town centre for Southwark.