A well located but underutilised industrial site at Lynton Road in South Bermondsey which is set to be redeveloped into a striking new residential scheme has been sold for £2.475 million by leading South London estate agent KALMARs.
This completed deal represents the latest success for KALMARs, who are experts at finding regeneration hotspots in the local area. The site has been purchased by well-respected local property developers Featherstone Homes, and the scheme includes planning permission for 19 apartments in one of South London’s major regeneration areas, which is set to benefit from a new London Overground station in 2025.
The site located at 304-314 Lynton Road gained planning consent from Southwark Council in November 2020. Previously a care breakdown and recovery depot, the site has full vacant possession and extends to 653sq.m. Ownership includes planning permission for the demolition of the existing buildings and the construction of 19 apartments, of which 13 will be for private sale. Designed by Alan Camp Architects, the scheme will deliver 15,204 sq.ft. of NSA residential accommodation and Featherstone will be able to begin redeveloping the site immediately.
The apartments are planned to be delivered in around eighteen months with buyers potentially moving in late in 2022. The planned development building at Lynton Road will be constructed from a mixture of dark and light brown bricks, and will reach four storeys topped by a garden roof terrace. The apartments will benefit from Featherstone Homes’ signature high specification as well as plentiful natural light and generous storage space.
Featherstone Homes was founded in 2016 and has now collectively developed and sold over 100 units across London. They are particularly well known for boutique residential developments of 9-30 homes. Their small team of founders manage their own departments and uphold a commitment to smooth and personal customer service. Based primarily in South East London, Featherstone’s business model is to develop luxury properties with a commitment to a high specification, and to help particularly young and first-time buyers to get higher up the property ladder with Help to Buy homes. The business takes pride in managing every stage of this process from land development through construction to property development and sales.
Lynton Road will form part of the South Bermondsey regeneration area, as this formerly overlooked industrial part of Southwark looks set to become South London’s latest up-and-coming hotspot over the next few years. Like Shoreditch and Hoxton in previous decades, South Bermondsey’s regeneration will be centered around a new London Overground station in between Queens Road Peckham and Surrey Quays, where construction will begin by 2025.
In addition, the New Bermondsey regeneration masterplan will transform a 30-acre industrial site into a new neighbourhood of over 3,500 new homes, shops, sports facilities and public realm including piazzas and cycle paths. KALMARs highlight that there is huge interest in the New Bermondsey regeneration masterplan, particularly from young professionals and first-time buyers. For all these changes, the area will not lose its industrial character, jobs and heritage, and new homes are primarily planned for infill sites with the aim of creating new vibrant residential neighborhoods.
Lynton Road is less than half a mile from South Bermondsey station, which is operated by Southern Rail. There are four trains per hour to London Bridge, giving easy access to London Underground services across central London.
Rowan Stewart, Director at Featherstone Homes, comments: “Lynton Road is a brilliant acquisition for us. At Featherstone the process of selling top-quality homes starts with finding the right site, and there are few more exciting up-and-coming areas than South Bermondsey in South London at the moment. This acquisition demonstrates what an exciting time of expansion this is for us as a business – though we are a small developer we have a varied and successful portfolio and we’re looking forward to the launch at Lynton Road.”
Sebastian Kalmar, Director at KALMARs, comments: “KALMARs are passionate about South London and it’s always exciting for us to be involved in helping with sites like this that are underutilized and have a great deal of potential. We’ve for many years been promoting and keen to see further investment and improvements made to South Bermondsey, with projects like this we are excited to see a great area benefit from good architecture improving the existing setting and providing high quality homes to the community. We have always enjoyed working with Featherstone Homes in the past, and we look forward to helping with the development at Lynton Road over the next few years.”