Southwark Council has had some exciting announcements about housing in the last few months. We want to have a closer look at them here to see what they mean for residents in the borough. Then, if you want any help with property investment in Southwark, you can rely on us.
Station development
In March we got the news that planning permission for an over-station development of Southwark Tube Station got approval. It will transform the area. Part of the project is to create 429 student rooms in a block above the station. In addition, Styles House will become 44 new council homes and a community centre.
This project is interesting for a number of reasons. Crucially, it showcases the Council’s planning policies. They require every development of student housing to also provide affordable homes if it is not by a university.
The project here is also notable because of changes to the plans. Original proposals were for 25 new homes. However, they were put on hold in 2023 in response to major changes in fire safety standards. It is fantastic the project can now proceed, and deliver more housing than the original plans. The aim is to begin building work in 2026.
New partnership
The second exciting piece of news is that a partnership between Southwark Council and CLT took a step forward. It will help deliver more affordable homes in Peckham. The project will be a notable piece of property investment in Southwark, redeveloping a site to create housing specifically for locals.
Details of the project are interesting. The site is on the New James Court Estate. It is currently home to 27 garages, but has been identified as land that could be redeveloped. Proposals would demolish the garages and deliver a new low density development of 12 homes.
Easily the best thing here is the plans to ensure the homes will be affordable in perpetuity. To do this, the prices will be based on the average income in the area.
The involvement of CLT is also worth noting here. The community-led organisation empowers locals to take a bigger role in developing the area and delivering more affordable homes. They work to identify development sites that will benefit communities.
The aim now is to deliver plans for the site, secure funding, and get planning permission. Estimates claim a planning application will appear in 2026, so we’ll have to wait for further details.
Thinking about property investment in Southwark?
Finefair Ltd can support clients in different ways to ensure you get the most from investing in properties in London. Our speciality is guaranteed rent. We know about the various schemes from local councils across the city and can make arrangements. On top of that, we can help with HMOs, blocks, estates, and more.
So, if you want any kind of help, including with property investment in Southwark, talk to us. We’re flexible and dynamic, able to deliver bespoke services for almost any need.
