The development, located on a site which has been vacant for many years, will comprise three buildings ranging from four to 10 storeys in height comprising 85 new flats, 26 of which will be affordable homes. The scheme will also have 3,000 square feet of commercial space and a basement car park.
Mount Anvil has acquired the site from Union Street Limited (USL), which is a joint venture partnership between property investor and developer Dorrington and real estate investor Lake Estates. USL selected Mount Anvil as its purchaser for the site after a tender process last year.
“We are delighted to announce our latest major residential development in central London, this time in the heart of Southwark," said Mount Anvil chief executive Killian Hurley. "This area continues its rapid and positive regeneration, which is yielding ever greater demand for new high-quality homes. We believe that our Union Street development will act as a further catalyst for the growth and rejuvenation of both the Southbank and Southwark areas, adding a unique and valuable new element to the already vibrant community,” he said.
The scheme already has planning permission and Mount Anvil said it has worked with USL to ensure work can start immediately. The project is expected to complete in summer 2014.
