Avanton and Urban & Provincial have received planning consent for the €146 mln (£130 mln) redevelopment of a former London warehouse into 262 new homes.
The Carpetright scheme will deliver 262 homes, including 170 for private sale, and the rest affordable homes as well as 20,000 sq ft (1,858 m2) of commercial space on the ground floor of the buildings, designed around with three large outdoor spaces.
Designed by architects Farrells, the complex will consist of two towers of 10 and 19 stores respectively.
The scheme is the third element of Avanton’s regeneration masterplan for the area, designed to deliver over 2,100 homes with a total project worth €892 mln.
Omer Weinberger, Chief Executive of Avanton said: ‘Avanton is committed to our extensive regeneration plans on Old Kent Road, with a trio of important sites that will bring new homes, amenities and public space to the area. Old Kent Road is an excellent location that is truly accessible to many Londoners with most units qualifying for the government Help to Buy scheme, which makes the units attractive both to owner-occupiers and long-term investors.’
Luke Osborne, director of Urban & Provincial said: ‘Old Kent Road is undergoing an exciting €12 bn regeneration with new homes, and workspace for up to 10,000 new jobs, commercial, retail and leisure facilities. The former Carpetright warehouse is currently vacant, which will allow construction to start without delay.’
Works are planned to begin in early 2021 with completion in Q4 2022.
