Weston Homes has bought a chunk of the former Dylon textiles dye site in Sydenham for a £100m housing scheme.
A special purpose vehicle for the site, owned by property tycoon Iain Hutchinson and Red Construction Group, secured planning for the site via an appeal in March this year.
The investors sold an earlier part of the site to Crest Nicholson in 2015, with 223 flats completing in 2017. The next phase of development will see a further 254 homes in two buildings rising between four and eleven storeys.
Bob Weston, chairman and managing director at Weston Homes, said: “The acquisition of the Dylon factory works site in up-and-coming Lower Sydenham will enable Weston Homes to deliver a new apartment scheme which is perfect for first time buyers, young couples and families. This new outer London development is part of our ongoing major growth and expansion.”
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