Grosvenor submits plan for £500m investment in Bermondsey
Grosvenor submits plan for £500m investment in Bermondsey
Grosvenor submits plan for £500m investment in BermondseyGrosvenor Britain & Ireland (‘Grosvenor’) has submitted its application to Southwark Council for one of London’s largest build to rent developments. Its plan seeks to transform part of the site of the former Peek Frean Biscuit Factory and Lewisham and Southwark College campus into an active, mixed-use neighbourhood that is woven into the fabric of the surrounding area.
Having worked in partnership with the local community for the last four years, and following three successful phases of local consultation, Grosvenor has submitted a plan it believes will revitalise the neighbourhood as a thriving economic centre in the heart of Bermondsey. Three quarters of those who gave feedback to recently-published proposals confirmed their support, compared to 9% who did not, and 17% who were neutral.
Grosvenor says its plan, if delivered, would provide up to 1,343 new purpose-built rental homes on the 13 acre brownfield site. It would support almost 2,500 new jobs and deliver a significant boost to local spending, spurring growth and revitalisation around Bermondsey.
Grosvenor’s £500 million investment proposals include a new 600-place secondary school, over 10,000 m2 of new office space and approximately 10,000m2 of retail, leisure, community and food and drink uses; all knitted together with over 20,000 m2 of new and improved streetscapes, play space and the planting of 140 new trees as part of a comprehensive package of public realm improvements. The company says these proposals seek to celebrate the rich history of the site, and ensure the development’s integration with the existing community. It wants to provide significant and tangible benefits to local residents and businesses. And as a long-term investor, Grosvenor has prepared a ‘Local Legacy Strategy’ to help ensure its plan brings those benefits for the long-term.
In response to local feedback, a number of historic buildings have been retained to help preserve Bermondsey’s much-loved past. Grosvenor hopes to deliver two new pedestrian routes through the railway arches (subject to all necessary consents) to improve connectivity, together with a reinstated section of Keeton’s Road to give direct pedestrian access from Bermondsey Underground Station to The Blue.
Marjorie Hill, a local resident who has lived in Bermondsey for a long time, said: “Grosvenor has been talking to the local community and has really taken on board our views. I previously had concerns with the proposed design of some of the buildings but the final plans look much better and I’d even say are beautiful in parts!”
Gary Magold, local resident and co-founder of The Biscuit Factory Museum, said: “Grosvenor has been keen to learn all it can about the history of the site, and I’m impressed with the way in which the designs tie in with the old factory buildings. I’m particularly pleased that they’re keeping and refurbishing the warehouse on Clements Road and are proposing to make the roof terrace that workers once used accessible again.”
Shannon Donovan, General Manager of The Bermondsey Community Kitchen in The Blue, said: “More investment in the neighbourhood and opportunities for local people are very welcomed. For us and the students we are training with Grosvenor’s support, in City & Guilds Catering qualifications, it is exciting to see the scale of jobs that will be created in Bermondsey through these proposals as it will enable them to continue working in the local area once they qualify.”
Grosvenor says it wants to create a place that fosters a mixed community for people with varying lifestyles. Its planning application includes a range of apartment sizes, from studios to three bedrooms. The company is also proposing to provide 27.5% of homes at discount market rent for people living and working in Bermondsey and across Southwark. Grosvenor wants to manage all homes for the long term, regardless of rent level, and integrate them across the new neighbourhood, with all residents having equal access to facilities. A review mechanism has also been volunteered to Southwark Council to allow the potential to improve the affordable housing offer, if possible.
Simon Harding-Roots, Executive Director, Grosvenor Britain & Ireland, said: “I am delighted that we have submitted this ambitious masterplan for Bermondsey. It is the culmination of our work with the community over the last four years. Many local residents have taken part in that process and helped us to develop proposals we believe would provide a major boost to Bermondsey. We are very grateful for their input and guidance.
“Our proposals signal our long-term commitment to Bermondsey. We believe this plan could revitalise the neighbourhood, provide much-needed, professionally-managed rental homes for Londoners, encourage enterprise and re-establish Bermondsey as a thriving economic centre in Southwark.”
Further details of Grosvenor’s masterplan can be found here at:
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The public consultation
Following three rounds of local consultation this year, and at the last exhibition, three-quarters of local people who provided feedback confirmed support for Grosvenor’s final proposals, 9% did not, and 17% were neutral (full details of the consultation process and local response has been reported on in Grosvenor’s Statement of Community Involvement, a public document submitted with the planning application).
In response to the local feedback, Grosvenor’s masterplan seeks to celebrate the rich history of the site; ensure its integration with the existing community; and provide significant and tangible benefits to residents and businesses.
- A number of historic buildings would be retained and integrated to help preserve Bermondsey’s much-loved past.
- Two new pedestrian routes through the railway arches would significantly improve local connections and together (subject to all necessary consents), with a reinstated section of Keeton’s Road, provide direct pedestrian access from Bermondsey Station to The Blue.
- Grosvenor has also developed a ‘Local Legacy Strategy’ to help ensure the scheme provides local benefits for the long-term.
About Grosvenor Britain & Ireland
Grosvenor Britain & Ireland creates and manages high quality neighbourhoods that are great places to live, work and visit.
Our diverse property development, management and investment portfolio includes Grosvenor’s London estate of Mayfair and Belgravia, where we manage a £1bn rolling investment programme. Our other developments are elsewhere in London, Oxford, Cambridge, Edinburgh and Southampton. As at 31 December 2016, Grosvenor Britain & Ireland had £5.1bn of assets under management.
We are part of Grosvenor Group, one of the world’s largest privately owned property businesses, which is active in more than 60 cities around the world.
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