Grosvenor’s £500m build-to-rent scheme in Bermondsey, SE16, has been given a second chance as London major Sadiq Khan has decided to call in and take over determination of the project.
Southwark Council rejected the plans for 1,343 residential units in February owing to insufficient affordable housing within the scheme, but the Greater London Authority’s planning officers in a report have said the scheme has the potential to make a “substantial and positive contribution to the strategic housing and affordable housing targets of the London Plan”.
The report added that the scheme, on the site of an old biscuit factory, would provide housing equivalent to 49% of Southwark’s annual target, 4.9% of the 10-year target and 1.9% of London’s total annual affordable housing need, which it said was “significant on a singular site”.
In addition the report flagged that Southwark Council was not meeting its housing targets and that the scheme would contribute 33.6% towards its strategic target of providing 9,588 affordable homes.
Grosvenor’s masterplan for the 12 acre site included making 27.5% of the habitable rooms available at an average 25% discount to market rent.
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