26 September 2019
Amended Bermondsey proposals increase affordable housing offer
Grosvenor Britain & Ireland publishes details of amended build to rent scheme following call in by the Mayor of London
- Grosvenor has worked with the GLA to maximise the project’s affordable housing offer both in terms of the number of affordable homes and rent levels
- Amended proposals introduce Social Rent Equivalent homes, along with build to rent homes
Grosvenor Britain & Ireland has submitted amended proposals for its Bermondsey build-to-rent scheme to the Greater London Authority (GLA).
The amendments seek to meet the Mayor’s strategic objective of growing the supply of housing, and affordable housing, in London.
Affordable housing offer increased; social rent equivalent homes introduced
Grosvenor has worked to maximise the project’s affordable housing offer both in terms of the number of affordable homes and rent levels.
The amended proposals now deliver 35% affordable housing* – of which 30% are at Social Rent Equivalent and 70% at Discounted Market Rent – by seeking to meet GLA policy for build to rent schemes. As well as still providing a new school, public amenities and workspace, which will create jobs and stimulate greater local economic activity, the amended scheme can now address an even broader range of housing needs for the borough.
To accommodate these amendments, the proposals now comprise 1,548 new homes (previously 1,342) including c482 affordable homes*, of which c140 will be Social Rent Equivalent.
Where required to enable the introduction of these new and new affordable homes, height increases of one to seven storeys have been sensitively made on some buildings in the heart of the site, close to the railway line.
Grosvenor has also sought to improve design quality by reconfiguring some buildings so that the vast majority of homes in the proposals benefit from private amenity space (i.e. balconies) and dual aspect outlook.
Simon Harding Roots, Executive Director, Grosvenor Britain & Ireland, commented:
“Bringing about positive and lasting change for Bermondsey has always been our focus. However, our original planning application was not good enough. We acted in good faith but it didn’t meet the council’s expectations.
“Since then, we have worked hard to address the clear call from the community, council and Mayor to deliver more affordable housing whilst ensuring the project, and its many other benefits, can become a reality.”
Details of the amended proposal can be found here.
The GLA’s statutory consultation on these amendments commenced on Thursday 26 September. Post consultation, the proposals will be considered at a public hearing convened by the Mayor of London, which is expected to take place before the end of the year.
If successful, phase one of construction would include 359 rental homes, of which 35%* would be affordable, as well as the delivery of the new 600-pupil secondary school and 8,155 sq ft of employment space.
*Affordable housing policy for the GLA and London Borough of Southwark are expressed by habitable room not number of units. Therefore unit numbers are expressed as ‘circa’.
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 and other developments in London, Oxfordshire and Cambridgeshire.
We are part of the Grosvenor Group, one of the world’s largest privately-owned property companies, which develops, manages and invests in property in more than 60 cities around the world.
As at 31 December 2018, Grosvenor Britain & Ireland had assets under management of £5.3bn.
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Notes to Editors
Grosvenor Britain & Ireland’s amended build to rent proposals for Bermondsey will transform a 12 acre brownfield site to provide much needed new housing and employment opportunities, and deliver:
- 1,548 new homes specifically designed for the rental market with a new affordable housing offer that addresses a broader range of housing needs for the borough
- A brand new purpose built 600 pupil secondary school delivered in the first phase of construction.
- The creation of almost 3,000 jobs spanning both the construction phase and long term future of the site.
- New, flexible employment space which will significantly increase job opportunities in the area and includes workspace for start-ups.
- New shops and amenities which respond to the identified needs of the locality, including small retail units, and complement and enhance existing businesses in The Blue.
- New pedestrian connections opening up the neighbourhood
- Significant provision of new, public and play spaces, amenities and improved public realm, including 141 additional trees and a publicly accessible roof terrace.
- A long-term social and economic Legacy Plan backing our long-term commitment to Bermondsey, aimed at maximising the benefits of the neighbourhood to those living and working locally.
View the full amendments at www.belonginbermondsey.com