Grainger has received planning consent to redevelop the OCCC Estate on Waterloo Road, SE1, to create 215 new homes.
Located close to the Old Vic theatre and Waterloo station, the scheme includes the re-provision of 33 new homes for existing long-term residents of the estate and 36 affordable homes available discounted market rent and London Living Rent.
In addition, the scheme will provide new office space for local businesses and dedicated rehearsal space for the Old Vic.
Helen Gordon, chief executive of Grainger, said: “This is especially pleasing as it endorses Grainger’s ability to recycle its property assets to not only provide a greater volume of new PRS homes in London but to provide new housing for our current regulated tenancy residents in Waterloo.
“This scheme provides a significant uplift in the number of homes on the site and supports the delivery of much needed quality rental homes in the capital.
“Looking ahead to 2020, Grainger’s PRS pipeline and schemes to build circa 9,104 homes are continuing to gain momentum; regional city clusters are being increased and new PRS opportunities are forthcoming.”
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