A project to transform a 140,000sq m plot in Canada Water into a residential scheme has been granted final approval.
The joint venture between Sellar Design Development and Notting Hill Housing will see 1,300 homes built, which will range from studios to four bedroom apartments.
Of these, 453 will be for private sale, 346 for private rent, 162 for affordable rent and 69 for shared ownership.
In addition, 150,000sq ft of retail space will be built, incorporating a cinema, bars and restaurants, plus office accommodation and a 100,000sq ft Decathlon store.
Kate Davies, chief executive of Notting Hill Housing, said: “The project at Canada Water will not only introduce properties to buy in Southwark, but it will also provide a much-needed boost to the rental options in the area.
“It marks a significant move in our ambition to create more quality new homes across central London and, in particular, to expand our ‘open market rent’ portfolio. This scheme will represent our largest ever development of new rental homes and will increase our exciting offering by almost 50 per cent.”
A public realm at the site will feature open spaces, landscaped gardens, walkways and cycle paths.
James Sellar, chief executive of Sellar Design & Development, said: “Over the past three years we have worked closely with local residents and Southwark Council to meet everyone’s aspirations for the site and to provide a focal point for both the existing community and the new residents that will be attracted to Canada Water over the next five years or so.”
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched