Investment: £10m Location: Old Kent Road, London 262 apartments
Region: London and the South East
Size: 150+ homes
HGP co-invested in excess of £10m in partnership with established London based developer Avanton to deliver 262 new build flats along the Old Kent Road Regeneration area of South-East London.
The Old Kent Road is identified in the Mayor’s plan as an Opportunity Area and the Old Kent Road Area Action Plan was thus formulated by Southwark Council together with the Greater London Authority. The Action Plan provides the objectives and policies to build 20,000 new homes and doubling the number of jobs whilst revitalising high streets.
This flagship investment from HGP represents the first phase of Avanton’s wider Ruby Triangle scheme which has detailed planning for an additional 1,150 units to be delivered over a multi-phase programme of development.
The scheme will consist of a mixture of studios, one bed and two bed flats situated across one building with two towers (10 and 19 stories respectively) along with ground floor commercial space.
In addition to helping to regenerate an area of strategic importance, this car-free scheme has several additional ESG attributes consistent with HGP values and aspirations including communal source heat-pumps, water-saving measures and improvements to surface water drainage to achieve a greenfield rating.