Published 27 Nov 2019
Peabody secure deal to deliver 224 new Shared Ownership homes in Southwark in collaboration with Berkeley Homes
Peabody is delighted to announce that we have secured a section 106 deal with Berkeley Homes Limited to provide three phases of affordable homes at a new site called Malt Street located on Frensham Street in Southwark, SE15.
Malt Street forms part of a large regeneration of the Old Kent Road area in which Berkeley Homes will deliver up to 3,000 new homes. Peabody will be partnering with Berkeley Homes to deliver 284 social rent homes as well as 224 new Shared Ownership homes, a part buy part rent tenure aimed at helping first time buyers onto the property ladder.
The new homes at Malt Street will benefit from considerable landscaped open spaces including a linear park which will run throughout the area. The site also includes plans for over a thousand cycle spaces as well as car parking, and benefits from excellent transport links including South Bermondsey Railway station situated just 5 minutes away served by Southern Rail.
Matthew Cunnah, Senior Development Manager at Peabody comments “This is a fantastic opportunity which will see Peabody deliver over 500 new affordable homes in a thriving community, in collaboration with Berkeley homes. Phase 1 at Malt Street is anticipated to complete by the autumn 2022 - followed by the second and third phases which will come forward at the same time as the nearby Bakerloo line extension, improving links throughout the Old Kent Road regeneration area to the rest of the city. We are proud to play a leading role in this project as we continue to be a principal provider of affordable homes in London.”
Homes at Malt Street are anticipated to complete from Autumn 2022 for the first phase of homes.
Development address: Malt Street, Frensham Street, Southwark, SE15 6TH
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