Henry Construction is building an 18-storey block of flats, called the BeCa, as part of the Ruby Triangle masterplan on the site of the old Carpetright warehouse on the Old Kent Road.
The developer is Avanton, now working in partnership on the scheme with Housing Growth Partnership.
Backed by Lloyds Banking Group and Homes England, Housing Growth Partnership (HGP) invests equity alongside regional residential developers and house-builders. The BeCa, which will have 262 flats, is the first development on which Avanton and HGP are working together. The joint venture aims to work on more projects and build around 1,000 homes over the next five years.
Henry's contract is valued at £65m. It moved on site for the BeCa in November 2022. The first residents are expected to be able to move in before the end of 2024 and the scheme should be fully completed in the first quarter of 2025.
Omer Weinberger, owner and chief executive of Avanton, said: “We are delighted to be working with Housing Growth Partnership, this joint venture that will enable transactions of up to £300m over the next five years to deliver 1,000 homes to Londoners. We have a shared goal of bringing high-quality schemes with thoughtful placemaking to life and this funding partnership will allow us to do so. Despite challenges affecting the market, we remain very active and believe this year will be monumental for our growth.”
Housing Growth Partnership investment director James Hutchinson said: “We are delighted to be partnering with Avanton on this development, an anchor scheme for the regeneration of the Old Kent Road which will help transform the community and provide much needed homes for Londoners. The BeCA is our first scheme together on journey to delivering 1,000 homes in London through the Avanton partnership.”
Architect Farrells says that the design of The BeCa was inspired by Manhattan’s TriBeCa neighbourhood. Every flat will have a private balcony as well as access to three landscaped roof gardens. The BeCa will also provide 22,195 sqft of retail space and 2,500 sqft of amenities including flexible workspace, games room and a day porter.
The publicity says: “Bringing loft-style living to Zone 2, the design-led homes will incorporate exposed brick walls, brass finishes and industrial elements throughout whilst maximising natural light. Farrells has focused on delivering homes that will resonate with the area’s rich industrial heritage and creative enclaves nearby.”
The wider Ruby Triangle masterplan will provide more than 1,400 homes across five acres, as well as 150,000 sqft of commercial space, with a combined development value of £730m. The residential towers, between 17 to 48 storeys in height, are designed around a central park, with sports hall, gymnasium, retail units and workshops.
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