South and West London developer Avanton has shown further commitment to the London Borough of Southwark’s Area Action Plan by acquiring the 1.6 hectare SGN Gasholders site on Old Kent Road.
Avanton is proposing to transform the historic Gasholders site into a new £230m (GDV) mixed-use regeneration project which will remediate the industrial land and provide hundreds of new homes including affordable housing, open space and over 50,000 sqft of light industrial commercial use, supporting the Council’s Healthy Living strategy.
Omer Weingberger, Managing Partner at Avanton said: “Avanton’s acquisition of the Gasholders site on Old Kent Road highlights our commitment to investment and regeneration in the London Borough of Southwark. The £230 million (GDV) Gasholders scheme will result in a significant contribution to the local community through the provision of homes, a substantial commercial offering and public open space.
“Our trio of projects will help to spearhead the transformation of Old Kent Road into a new town centre for London. Alongside this there is the planned extension of the Bakerloo Line with two new stations on Old Kent Road.”
Old Kent Road is undergoing a £10.7bn regeneration with new homes, and workspace for up to 10,000 new jobs, commercial, retail and leisure facilities. The location is equidistant to Central London like other locations such as Clapham, Islington and Pimlico.