Landowner Aviva Investors, in conjunction with developer Galliard Homes, has received a Resolution to Grant planning permission from Southwark Council for their proposals to regenerate the Cantium Retail Park into a new £600m mixed-use development for the Old Kent Road, London.
Cantium Retail Park, located at 520 Old Kent Road is 1.9-hectare (five acres) and will be redeveloped into a series of new buildings ranging from three to 48-storeys designed around a new public square, pedestrian boulevards, piazzas and landscaped areas, fronting onto a new linear park.
The 48-storey (525 ft/160m) residential tower will become the fourth tallest residential tower in London once complete.
Stephen Conway, Executive Chairman of Galliard Homes, said: “Galliard Homes is delighted to be working with our partner Aviva Investors to deliver another major regeneration project in Southwark, creating a vibrant new destination on the Old Kent Road. The regeneration of Cantium Retail Park will serve to kick-start the wider planned regeneration and transformation of the entire Old Kent Road into a vibrant new high quality commercial, retail and residential destination for South London.”
The development will see 1,113 new homes built, including apartments, maisonettes, penthouses and townhouses, 60,913 sq ft of office floorspace, 23,982 sq ft of retail space, 25,144 sq ft of flexible space for restaurants, café, cinema and leisure premises and 6,415 sq ft of space for cultural facilities such as a youth theatre or mini-opera house. The shops, restaurants and cafes are expected to create up to 580 new jobs.
Of the 1,113 homes there will be 750 private sale units including 735 apartments, duplexes and penthouses. The private sale apartments will be located in the 48-storey residential tower and an adjacent 13-storey building. They will also occupy a series of low-rise four-storey apartment buildings overlooking a small park.
Additionally there will be 126 one, two and three-bedroom shared-ownership apartments and 237 one, two and three bedroom-apartments and maisonettes for social rent.
The new development will provide one hectare of new public open space in the form of a linear park with trees, planting, parkland, water features and pedestrian boulevards, connecting with the neighbouring 140 acre Burgess Park.
