Bermondsey industrial site acquired by housebuilder in £9.75m deal

An industrial site in South London has been purchased by a housing specialist in a £9.75m acquisition.

The Hatcham Road site in Bermondsey has been sold by property specialist KALMARs and joint agent Kingsbury to housebuilder Optivo for a joint venture project with housing association Skillcrown.

With resolution to grant planning permission, the housebuilder has plans to create 86 homes in a nine-storey building as well as two commercial units on the ground floor.

Providing 61,000 sq ft of residential space, the development will consist of a mix of one-bedroom, two-bedroom and three-bedroom apartments, in addition to the 7,600 sq ft of commercial space.

Sebastian Kalmar, director of residential development at KALMARs, commented: “KALMARs are delighted to have guided the successful sale of Hatcham Road, an industrial site that is set to be transformed into new-build homes and commercial space.

“The area within the Old Kent Road Opportunity Area is seeing significant investment and we expect the area’s appeal to grow over the coming years.

“Given the potential increase in land values once a scheme is completed, Hatcham Road could prove to be a very substantial investment.”