09 JULY 2024

Soho Housing confirmed as affordable housing provider for South Molton

  • 125-year lease agreed as part of major new mixed-use development in London’s West End. 
  • Two thirds of the highly sustainable homes will be for social rent.

Grosvenor has announced Soho Housing as the owner and manager of the eleven affordable homes being delivered as part of its 370,000 sq. ft. South Molton project, the West End’s largest mixed-use development.  

The new affordable homes, delivered alongside 22 additional private homes, will be delivered as part of a major refurbishment of the 18th century terraced properties on South Molton Street and will be located above 18 retail and food and beverage units 

Retaining the original Georgian features and streetscape, the works will ensure that residents benefit from sustainable, highly energy efficient homes which are comfortable and cost efficient to run. Each home will be all-electric with heatinsupplied through an air source heat pump network and renewable energy generated from onsite rooftop PV arrays. 

Alongside these homes, South Molton will deliver new office space, a 5* hotel and new cafes, shops, restaurants, community and leisure space, all stitched together with improved public realm. Once complete it will provide space for c1,000 new jobs and is expected to attract c£6 million of additional spend to the area, supporting growth and other job opportunities. 

Soho Housing will acquire the homes on their completion in 2025, which comprise four one-bedroom, five two-bedroom and two three-bedroom flats. Seven of the homes will be provided at London Affordable Rents (social rent) and four at London Living Rent (affordable rent) 

The retrofit and renovation of South Molton Street is part of a wider strategy to improve the energy efficiency of Grosvenor’s London portfolio and minimise embodied carbon by prioritising the re-use of buildings. 

In line with the company's net zero carbon ambitions, Grosvenor has successfully retrofitted over 1 million sq. ft. of space through its £90m retrofit commitment, with a further 250,000 sq. ft. of space refurbished, rather than being demolished.

Simon Armstrong, Development Director, Grosvenor said:  

“From the outset, our ambition for South Molton has been to take an under-utilised and unloved area and transform it into a true community. That meant South Molton needed to serve a broad range of needs, including the delivery of onsite affordable housing.” 

“Confirming Soho Housing as the owner and manager of the affordable housing is an important milestone for us as we bring South Molton forward. These new homes will retain their architectural heritage, whilst also being highly energy efficient, ensuring residents benefit from warm comfortable homes that require less energy to heat.” 

Barbara Brownlee, Chief Executive, Soho Housing said:  

“It is great to be partnering with Grosvenor on this important, sustainable, mixed-use development. The properties joining our portfolio speak to the core of Soho Housing’s mission since the 1970s: to provide affordable homes that allow people to live in the heart of London.  

We’re delighted to be working with an enlightened developer like Grosvenor who shares our vision of creating sustainable urban communities that work for all.”  

About Grosvenor

Grosvenor is an international organisation whose activities span urban property, food and agtech, rural estate management and support for philanthropic initiatives.

We are a values-led business which represents the Grosvenor family and share a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.  

With a track record of over 340 years, we work to improve urban property and places in many of the world’s leading cities, promoting sustainability within the built environment and enhancing the wellbeing of customers and communities. 

Our UK property business supports c1,000 businesses and tens of thousands of residents and workers across London’s West End each day. We also invest in, create and manage sustainable neighbourhoods in Liverpool and across England. As a 1.5oC aligned company, pioneering change and new ways of thinking about property we aim to ensure our places benefit both people and the planet over the long term.

Matthew O'Connell

Senior Public Affairs & Communications Manager


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