Three firms have won the contract to redevelop a brownfield site in south London for housing.
McAleer & Rushe, John Sisk & Son and McLaren have been appointed to build a £600m residential-led regeneration of a former biscuit factory.
The three will build 1,624 homes for rent on the site in Bermondsey. The contractors will also provide amenities for residents across the development, including lounges, workspace, gyms, roof terraces and an indoor swimming pool.
The first homes will be ready for occupation in autumn 2025 and the whole scheme completed in late 2027, according to client Greystar.
McAleer & Rushe picked up the biggest chunk of work. The firm will oversee two plots: five interlinked buildings containing 359 homes split between market and intermediate rent; and a 20-storey tower containing 225 homes and a four-storey office block.
Director Darragh Greenan said his firm was “committed to delivering exceptional homes to the highest standards” and working closely with the community over the construction period.
Sisk will build block ST, two connected residential towers at 35 and 28 storeys tall, which managing director Ger Hayes said would “create a significant addition to the London skyline”. The towers will contain 472 market-rent homes.
Hayes said Sisk would aim to lower the buildings’ carbon footprints by leverarging modern methods of construction (MMC) and offsite construction. He added that the project would be logistically challenging because the site is close to the main line into London Bridge station.
“Our experience and expertise of delivering large complex high rise, high density residential and infrastructure in large public spaces will play a key role in this project’s success,” he said.
McLaren will build building F, partially retaining the former Peek Frean packing factory, where Garibaldis and custard creams were shipped off in the late 1800s.
The lower floors will feature flexible commercial space, while the six storeys above them will contain 230 market-rent homes.
McLaren managing director for regeneration John Butten said the scheme was “an important project for the wellbeing of the community”.
To fund the project, Greystar raised a £600m debt facility from a consortium of four lenders: Standard Chartered Bank in London, First Abu Dhabi Bank, Oversea-Chinese Banking Corporation, and Emirates NBD.
The appointment of contractors is a major step forward for the site, which has undergone several changes in the past decade.
Original owner Workspace, which operates a co-working space on the site, won planning consent in May 2013 for 800 homes and new offices.
Developer Grosvenor bought the site for £51m in October that year and sought planning permission four years later for a 1,548-home scheme designed by architects KPF. Southwark council initially rejected the scheme, citing a lack of affordable housing. London mayor Sadiq Khan called in the development and green-lighted updated plans in May 2020.
The project never started construction. Greystar bought the site in autumn 2022, appointing new architects, HTA Design, and adding 88 homes to the masterplan. Plans for the latest vision were approved in March this year.
