Bridging Finance News:- An £83m mixed-use development of 86 luxury flats and 143 apart-hotel residences in Bermondsey, south London, has got the go ahead from Southwark council.
The scheme is the latest joint venture for developers Galliard Homes and Acorn Property Group.
The Newhams Yard development off Tower Bridge Road will comprise three towers of up to ten storeys around a public courtyard with shops, restaurants and office services on the ground floor.
Galliard Homes sales director David Galman, said: “The scheme will create a new communal hub for the local area with a variety of cafes, restaurants and retail opportunities which we anticipate will be very popular with local residents. We look forward to bringing our plans for stylish homes at Newhams Yard to life.”
The development has been designed with sweeping curves to maximise natural light and open-plan living for the studio, one, two and three-bedroom homes and apart-hotel residences. The hotel is to be operated by the Serviced Apartment Company. The first phase of the development is due to be finished by 2020.
The plans also provide for a café, co-working space and a gym. The ground floor of each building will offer retail and restaurant space, creating a new communal hub.
Development in key spot
The scheme is next to the grade II listed St Mary Magdalen Church with the new flats looking out on to the churchyard.
Newhams Yard is a 12-minute walk from London Bridge Station railway station and the Northern and Jubilee tube lines giving swift access to The City, Canary Wharf and central London.
Bridging Finance by HZA
Financial intermediaries Hank Zarihs Associates said the initiative was in a prime location with lenders keen to offer competitive construction loans and instant bridging finance.
