Residential site fetches more than £20 million

Thu 12 February 2015, 2:35 pm

The developer Boultbee LDN has purchased a residential site in Southwark for 20.2 million.

The residential-led, 7,710sq m scheme is a joint venture with Peveril Securities and Sharpe Real Estate, and will include 95 properties. 57 of these will be sold on the open market, and 38 will be affordable, according to Boutlbee LDN. There will in addition be 1,170sq m of commercial space. The estimated Gross Development Value of the scheme, located on the corner of Long Lane and Weston Street, is £64.3 million.

Steve Boultbee Brooks, chairman of Boultbee LDN, said: “This site represents an excellent opportunity to create a high-quality mixed-use scheme incorporating private and affordable housing together with commercial space. 

“Southwark has benefited from regeneration in recent years, and this scheme will reflect the diverse accommodation that has made Southwark a vibrant place to live and work, with both domestic and international appeal.”