Development Securities has got the go-ahead for its £85m mixed-use redevelopment in Abbey Wood, SE2.
The developer, in a joint venture with Berkshire Investment Capital, has secured resolution to grant planning for the Cross Quarter scheme on a 10-acre site.
The proposals comprise an 80-bed hotel, 220 homes, 5,000 sq ft of commercial space, and a 81,000 sq ft shop that was prelet to Sainsbury’s in July 2012.
Simultaneously, a jv agreement was reached with Gallions Housing, the adjoining land owner, to create a larger 10-acre parcel of land for redevelopment.
Cross Quarter is located at the gateway to Abbey Wood and adjacent to its main train station, which is the new South East terminus for Crossrail, due to open in 2018.
Following approval from Greenwich council, construction on the Collado Collins-designed scheme is expected to start in the summer, with the first phase of the development due for completion in 2015.
joanna.bourke@estatesgazette.com
