Plans have been submitted to Southwark Council for a 505-home development in Camberwell just south of Burgess Park named Camberwell Union.
Planning documents mention 35% “affordable” homes. It’s in the middle of a number of Opportunity Areas and sites of large-scale developments.
EDIT: Thanks to a reader who spotted that associated Viability Assessment documents say 35% “affordable” is NOT viable and so is looking to be cut.
Remember, Viability Assessments state a development is non-viable if profit margins are less than 20%. This is one reason for arms-length council developers to build as a large 20% margin is not necessary.
The site is currently a light industrial park and bounded by Parkhouse Street
to the north, Wells Way to the east, Cottage Green to the south and Southampton Way to the west.
Surrounded areas are also in line to be redeveloped.
The plans retain a chimney on site which will become a focal point with streets leading off the spot.
Commercial space of a size capable of supporting 250 jobs is included.
The plans often mention cycling times to local stations rather than walking. That’s probably because this spot is somewhat of a transport desert.
The Bakerloo Line is supposed to help. The only issue there is that it’s 10 years away at best, and 12 could be more realistic given Chris Grayling’s attitude to transport and infrastructure. That’s a LONG time to wait.
TfL are badly struggling with their operating finances after a £700 million a year cut from George Osborne in 2015 which is now taking effect (and to a lesser extent the fare freeze which is estimated to cost around £150 million a year) and it wouldn’t be a surprise if any capital budget was shifted to plug holes. That could hamper Bakerloo development progress.
As a side note, I’m hearing credible word that Grayling is trying to block Crossrail 2 and even looking to cripple TfL overall in order to remove it from local control.
Osborne’s cut leaves London as the only major European city with no government support whilst the Mayor has less ability to raise funds than almost all European contemporaries.
The developer’s promotional material will not mention that, nor will those puff piece supplements in newspaper property sections which resemble adverts rather than journalism.
The 505 homes and associated commercial space will be located amongst 13 blocks between 3-14 storeys.
If approved they will form part of the target to build 27,362 new homes in Southwark borough by 2025.
The planning reference is 17/AP/4797/ Click here to search, view and comment.
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