Southwark Council has approved DTZ Investors’ plans for a residential-led development with towers of up to 48 storeys on the Old Kent Road, SE1.
The planning committee unanimously backed a hybrid application for redevelopment of Southernwood Retail Park on Humphrey Street.
The freeholder for the site is Glasgow City Council, acting for Strathclyde Pension Fund. It is managed by DTZ Investors and was designed by Pilbrow + Partners. The plans were submitted at the start of November.
The trio have been given the green light for phase one, comprising 541 flats, a 195-bedroom hotel and 10,000 sq ft of shops, alongside outline planning for phase two, comprising 11,000 sq ft of commercial space, a further 183 flats and a cinema.
The scheme proposes 724 flats across the two phases, of which 219 (35.52% habitable rooms) will be affordable. Some 10.34% will available at intermediate rent and 25.18% will be social rented.
It will be referred to mayor of London Sadiq Khan for final approval.
The big-box site currently has two large retail sheds occupied by DFS, Carpetright, Sports Direct and Argos Extra.
It sits above the preferred route of the tunnels proposed as part of the Bakerloo line extension. It is on the shortlist for the site of the first underground station, however the Tesco site is currently the preferred location.
Approval of the 48-storey development is the latest in a series of tall towers set to line the Old Kent Road. Last October, the council approved Avanton’s 1,152-home scheme in towers of up to 48 storeys on the Ruby Triangle site and in February Galliard and Aviva’s 48-storey 1,113 home scheme at Cantium Retail Park was given the go ahead.
Investors flocking to the Old Kent Road have proposed a large number of high density residential developments in place of secondary retail parks.
There are currently 25,000 homes planned for the wider area, but development is reliant on the demand for homes provided by the Bakerloo line extension. The development was proposed in 2014 and is currently undergoing public consultation, with completion anticipated in 2029.
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