Regal London has acquired a 0.7 hectare development site on the Old Kent Road for a PBSA-led scheme, for an undisclosed price.
The company has bought Devonshire Place at 747-759 Old Kent Road and 765-775 Old Kent Road opposite the proposed new Bakerloo Line station, for its second PBSA scheme.
The site will comprise around 900 student beds plus 220 on site new affordable homes, including new large family homes. Regal London will submit proposals for the scheme to Southwark council later this year.
Simon De Friend, co-founder of Regal London, said: “This is a fantastic opportunity in the middle of the Old Kent Road Opportunity Area. As an agile developer, we have recognised that high quality student accommodation has the potential to enable the delivery of a significant quantum of affordable housing, thereby unlocking this challenging site.”
