Argon Capital seeks partner for Old Kent Road residential development

CBRE client Argon Capital is seeking a development partner for Manor Works, a residential-led mixed use development, which is set to deliver 338 new homes on a brownfield site in the Old Kent Road opportunity area.

Southwark Council’s Planning Committee resolved to grant planning permission for the redevelopment of a site at 6-12 Verney Road earlier in June, subject to GLA referral and signing of a Section 106 agreement. This follows the news that plans for over 1,600 new homes for Old Kent Road were approved this month.

The plans for Manor Works propose a residential-led mixed use development that has been designed by the award-winning London based architects SPPARC. The plans are for 338 residential apartments, more than a third of which will be affordable, and 54,072 sq ft GIA of employment floor space (B1a and B1c), to be built in three towers.

The Verney Road site area extends to 0.75 hectares (1.85 acres) and benefits from vacant possession. The surrounding area is predominantly residential and industrial, with the surrounding industrial uses being redeveloped, predominantly for residential use.

Located within the Old Kent Road Opportunity Area, one of London’s most important opportunity areas along with Stratford City and the Old Oak Common regeneration, the Old Kent Road Area Action Plan has the potential to deliver 20,000 new homes, 10,000 new jobs, new parks, new schools, a new college and improvements to Old Kent Road.

In addition to being very well served by buses into central London, the site is a short distance from South Bermondsey railway station (0.5 miles/ 9 minute walk), with regular National Rail services into central London. The site is also in walking distance to the preferred location of 2 proposed new Bakerloo line stations along Old Kent Road, which will provide direct services into Oxford Circus in 14 minutes. Manor Works is near the Cantium Retail Park, which is intended to be the new shopping and leisure hub within the Masterplan.

Adam Cradick, Senior Director, CBRE UK Development, said:

“This is an opportunity for a partner to work with the site’s owner to deliver one of the first developments to come forward in South London’s newest destination, capturing the new wave of growth. There is momentum to bring forward the delivery of this project at the earliest opportunity. We are already discussing the proposals with interested parties, and we anticipate considerable further interest.”