Construction work to deliver 84 high-quality homes in Bermondsey, is now underway.
Optivo acquired the residential element of the site from developer 2020 Capital.
2020 Capital retains the commercial element and will operate it as a creative workspace.
The building will contain homes for Affordable Rent and Shared Ownership. It will also include a flexible workspace for small and medium-sized enterprises in the local area.
Neill Tickle, Optivo's Director of Land and New BusinessNeill Tickle, Director of Land and New Business at Optivo commented: “This is a really exciting time for the area with so much regeneration happening. At Optivo, we’re passionate about doing our bit to tackle the housing crisis and delivering modern, affordable homes. We’re excited to get started and hope to hand residents the keys to their new homes in the autumn of 2021.”
Bhavesh Armin, Director of 2020 Capital, added: “We are delighted to be working with Optivo and watching them deliver the scheme we designed at 180 Ilderton Road. It is with great excitement and anticipation that we transition from the planning stage through to delivery, and ultimately occupation, of this fantastic scheme. The redevelopment will deliver high quality housing and much needed creative flexible workspace, in a rapidly evolving part of London.”
2020 Capital were advised by Maze Real Estate, a strategic independent development advisor.
The scheme contributes to the Old Kent Road Masterplan area and constitutes a £35m investment in Southwark.