Great Suffolk Street

In joint venture with a UK property Plc, we pursued change of use to residential on a 1 acre industrial site in Southwark.  As development partner, we were responsible for full engagement with the local authority and key stakeholders.

The development pursued represented a major building for the location and was constrained physically by the urban environment, however through a focus on good design and sustainability a major permission for Southwark was achieved.

The viability of developing the consented scheme was impacted by the economic downturn of 2008 and as such we pursued an alternative permission for a major student housing scheme which added significant additional value to the site.

Key Facts

• Achieved residential consent for 173 apartments within 12 months of commencement of JV (August 2008)
• Revised planning and achieved consent for 671 student beds within the residential consent footprint
• Site sold to major student housing Plc for £31.5m in September 2010