Renewal has lodged fresh plans for 3,500 homes at the £2bn New Bermondsey regeneration next to Millwall Football Club, SE15, almost a decade after outline planning consent was granted.
The new plans follow years of wrangling between Renewal, Lewisham Council and the football club, which plans to bring forward development around the stadium.
The council is the freeholder of the Millwall FC land, which the club owns on a long leasehold. The pair had previously raised concerns over the “viability, deliverability [and] reputational risk to the council” in granting a CPO that would see the club evicted from the site.
That CPO was thrown out in 2017 and Lewisham terminated the conditional land sale agreement with Renewal for the football club land. In 2020, the club announced it would agree a new lease for the Den and unveiled plans to extend the stadium.
Renewal will focus on 16 acres to the north and south of Surrey Canal Road, on a 30-acre parcel of land bounded by the railway. It includes Stadium Avenue, which will link to the entrance of the stadium and a public square.
The plans are a significant uplift on the 2,400 homes approved by Lewisham in 2012. The developer has proposed 35% affordable housing, up from initial plans for 12%, with a £47m CIL payment and £12m in section 106 contributions.
Hybrid plans propose 600 homes in phase one, with a further 2,900 homes in phases two to five. The latter phases comprise 3.6m sq ft of residential development, with a further 560,000 sq ft of class E business space.
Phase one (pictured, above) will see two identical 31-storey PRS towers comprising 400 flats in total, with a third building of the same height dedicated to affordable housing.
The developer’s estimated sales value of £800 per sq ft for the private market homes in phase one provides a gross valuation of £225m, with a further £42m for the affordable housing.
Renewal hopes to start on site at the end of this year, with completion of phase one in 2024. It is anticipating a 15-year build for the full scheme.
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews
