Featherstone Homes is planning to build a development of 61 apartments and 1600 sqm of ground and first floor commercial space across four blocks of between five and nine storeys.
United Trust Bank is providing £20m of funding for the scheme over three years; Featherstone Homes and its equity partner, private debt specialist Global Growth Capital, are providing the additional £10m required to complete the project.
Work has begun on site in Silwood Street, Bermondsey, with construction expected to take two and a half years.
It is Beckenham-based Featherstone Homes’ largest project to date in its eight years of operations.
Rowan Stewart, director of Featherstone Homes (Southeast) Ltd, said: “This is an exciting time for Featherstone. We have ambitious plans to undertake more projects and are actively looking to acquire further residential development opportunities in and around London.”
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