Former biscuit factory to become new build-to-rent development in Southwark

A former biscuit factory in Southwark, London will be turned into 1,500 new homes, 35% of which will be affordable. 

Last Friday (February 21), the deputy mayor for planning, regeneration and skills, Jules Pipe, gave the £500m build-to-rent project the go-ahead.

In May last year, the project was rejected on the basis that it did not comply with the council’s policy for affordable homes, with plans for only 27.5% of the homes to be classified as affordable.

However, under revised plans,35% of the properties will be affordable, including properties at a social rent level, and 342 of these properties will be offered at a discount market rent price.

Compass Secondary School will also benefit from the project, with new modern school facilities set to open in September 2023.

Jules Pipe said: ‘The site has the potential to deliver more than 1,500 new homes in an area of London with a high demand for affordable housing, close to transport links and central London.

‘Overall, it will make a significant contribution towards the regeneration of this part of Bermondsey, having considered all the evidence available to me, I have decided to approve this application.’

However, members of Southwark council have expressed concerns about the project, Cllr Johnson Situ, cabinet member for growth, development and planning, said: ‘We are disappointed with the decision to approve this project.

‘Whilst we recognise the small improvements in the number of affordable homes the site will offer, the application still fails to meet the council’s policies for social and genuinely affordable housing.

‘We believe the amount of social housing on offer could be a lot higher and it is disappointing that the application will now go ahead with so genuinely few affordable homes.’

In related news, earlier this year New Start got in touch with Paul Hackett from the Affordable Housing Commission to discuss some of the issues with the UK’s current housing market.

Photo Credit — Pixabay