Royal Mail sells land near Houses of Parliament for 262-home development
Developer Galliard Homes has snapped up part of a former Royal Mail facility in London for a project to build hundreds of new homes.
Galliard bought the 0.9-acre plot, located at the 14-acre Nine Elms Park in Vauxhall, for £22.2m.
The company plans to develop 262 residential units on the land in partnership with property firm O’Shea. Around a quarter of the homes will be affordable housing.
At Nine Elms, 8.35 acres of land is marked as developable pursuant under outline planning permission granted by local authorities in 2012.
It centres on a linear park that runs the length of the site, from east to west, and includes both residential and commercial elements across seven development plots.
The masterplan was created by architecture practice Allies and Morrison.
Nine Elms will centre on a linear park running east to west
Galliard Homes executive chairman Stephen Conway said: “Galliard Homes is pleased to have acquired this central London consented site, which once complete will be located within a park setting, just a short walk to the River Thames and Houses of Parliament.
“The wider regeneration area is creating a new destination for South London and has already attracted several major occupiers.”
Martin Gafsen, group director of property and facilities solutions at Royal Mail, commented: “The sale of the third plot on our Nine Elms site to Galliard Homes marks the next step in our contribution to the emerging residential community in this exciting new area of the capital.”
Established in 1992, Galliard now employs more than 700 staff and has a development portfolio worth over £3.8bn currently under construction.