14 June 2017
Grosvenor commits to 'generation rent' with its £500 million Bermondsey draft masterplan
Grosvenor Britain & Ireland (‘Grosvenor’) has today responded to the generational shift to renting in London by publishing a draft masterplan (‘plan’) for one of the capital’s largest build to rent developments
Grosvenor Britain & Ireland (‘Grosvenor’) has today responded to the generational shift to renting in London by publishing a draft masterplan (‘plan’) for one of the capital’s largest build to rent developments.
Grosvenor's plan, in the heart of Bermondsey, would host around 1,500 new rental homes, its latest public consultation reveals. It would also provide a number of homes on a range of discounted market rents, reaching a wider spectrum of people.
Grosvenor proposes a £500 million investment plan for the 12-acre former biscuit factory site, backed by the company’s 340 year history and track record of creating and managing some of London's most successful places. It wants to manage all these homes for the long term and is gathering the views of locals and other stakeholders.
The plan, designed by award-winning, international architects Kohn Pedersen Fox Associates, outlines ambitions for a physically integrated neighbourhood with a brand new 600-place secondary school at its heart, over 110,000 square feet of new public spaces and almost 20,000 square feet of new playspace.
Approximately 85,000 square feet of ground floor retail, food, leisure and culture would be added with shops, services and facilities open to the community.
Development plans would also create conditions for over 900 new jobs, opportunities for new and existing businesses, and an annual boost to local spending of £30 million. Grosvenor is testing its latest proposals after two years of local interaction and discussion.
Craig McWilliam, Chief Executive of Grosvenor Britain & Ireland, said: “London's housing shortage is too often creating polarised outcomes, with homes for the few who can afford to buy them, and those allocated social rented accommodation. We are sharing our ambitions in Bermondsey to meet the needs of many on low and middle incomes who are locked out of London’s housing market.
“We want to help create one of London's greatest neighbourhoods for people of mixed incomes, backgrounds and life stages. We want to manage these rental homes for the long term, responding to changing needs and extending Bermondsey’s rich history at the heart of a growing, global city.”
For more information contact:
Senior Media Relations Manager
Grosvenor Britain & Ireland
+44 (0)20 7312 6479
Notes to Editors
Computer generated images (illustrative only) of development proposals are available, alongside others, at higher resolution on request.
Grosvenor's masterplan will be on display in Bermondsey in Unit H.O.5 of the Biscuit Factory site, accessed from its Clements Road entrance, on:
- Thursday, 15 June, 4pm-8pm
- Friday, 16 June, 2pm-6pm
- Saturday, 17 June, 12pm-4pm
A smaller version of the same exhibition, with historical images and artefacts from the site’s former life as a Biscuit Factory, will also be displayed on:
- Saturday, 17 June, 9am-1pm in Market Place, Southwark Park Road
- Saturday, 1 July, 12pm-6pm at Bermondsey Carnival, Southwark Park
For further details: www.belonginbermondsey.com
A number of the older buildings in the heart of the Biscuit Factory are owned by Workspace Group plc. and continue to provide a home for a wide range of growing businesses. These buildings will be retained and we are working closely with Workspace on the development of our plans.
Grosvenor Britain & Ireland
Grosvenor Britain & Ireland creates and manages high-quality neighbourhoods across the UK and Ireland. The company’s diverse property development, management and investment portfolio includes Grosvenor’s London estate of Mayfair and Belgravia, in which it has a £1bn rolling investment programme. Other developments are elsewhere in London and in Oxford, Cambridge, Edinburgh and Southampton. As at 31 December 2016, Grosvenor Britain & Ireland had £5.1bn of assets under management.
Grosvenor Britain & Ireland is part of Grosvenor Group, a privately owned property group active in some of the world’s most dynamic cities. www.grosvenor.com @Grosvenor_GBI
Kohn Pederson Fox
Kohn Pedersen Fox (KPF) is an international architecture practice that prides itself on creating buildings which reflect and inspire the communities they serve. Their design process is underpinned by a respect for people and the desire to create spaces that resonate with a sense of place.
KPF is leading the Bermondsey masterplan design, which focuses on streets, spaces and the types of buildings.
Cottrell & Vermeulen Architecture
Designers of the proposed school
Cottrell & Vermeulen Architecture is an award winning London-based practice that designs inspiring new schools. Several are in Southwark, including Sacred Heart School in Camberwell.
With more than two decades of design experience, the firm’s work is characterised by ensuring that all buildings are inspiring, practical and individual to the needs of its users and surrounding contexts.
In 2016 Cottrell & Vermeulen were awarded both Education Architect of the Year and the prestigious Gold Architect of the Year by Building Design magazine.