Updated: Apr 15, 2020
In December 2017 Southwark Council announced their 20 years plan to regenerate the Old Kent Road and surrounding area including 20,000 new homes and 10,000 new jobs. The announcement is complemented by recent exciting news from TFL who are strongly considering the option to extend the Bakerloo line from Elephant and Castle to Lewisham along the Old Kent Road, where two new stations were proposed.
A few weeks ago the first development in Malt Street, just off the Old Kent Road, was approved by the Council. 1,300 new homes – including 83 new social rented houses – are going to be built by 2023 by property developers Berkeley Group across 11 towers ranging from 5 to 44 storeys.
The construction of a further 338 new homes in Verney Road was approved on the 17th June. The development will also include more than 5,000 sqm of business space.
Large scale regeneration projects are dominating the development landscape all-over South-East London.
Last year British Land submitted plans for 3,000 new homes in Canada Water.
Grosvenor, whose plan to develop circa 1,100 flats at the Biscuit Factory was rejected by Southwark Council earlier this year, is currently exploring their options on how to proceed.
What next? We will certainly keep you updated.