Greystar lined up for Bermondsey approval

Greystar is set to receive planning approval from Southwark Council for changes to a 14-acre build-to-rent scheme in Bermondsey, SE16. The developer acquired the former Peek Freans biscuit factory site from Grosvenor in September 2022. The council has been recommended to approve the scheme at a planning meeting next week. The site was acquired with an existing planning consent for a £973m GDV scheme comprising 1,548 homes in buildings rising to 35 storeys, as well as 150,000 sq ft of flexible employment space. Greystar filed a “minor material amendments” application for the site in August 2023, to increase the number of homes to 1,624. The proposal also includes a reduction of two affordable homes with 338 social rent and 142 discounted market rent homes now proposed compared with 140 social rent equivalent and 342 discounted market rent homes of the approved scheme. Other changes to the original application include revised fire safety by providing two fire escape stairs per core in the residential buildings, to meet revised Building Regulations. Greystar has also increased the provision of 10% affordable workspace from 6.8% of the approved scheme. The proposal also has higher carbon savings compared with the approved scheme owing to improved thermal performance and recent changes to Building Regulations.