Estates Gazette reports:
"Mount Anvil and Hyde Group have teamed up with Sainsbury’s to develop a scheme with a possible end value of £600m next to the Bakerloo Line extension at New Cross Gate.
"The pair are the preferred bidders for a potential 1,400- home redevelopment of the seven-acre site. They will form a joint venture with the retailer to rebuild the supermarket with thousands of flats above and alongside it...
"The site has previously had scoping proposals submitted for a scheme of around 400 homes... Mount Anvil has provided affordable percentages of around 35% on a number of its London schemes, including the 308-home Lexicon on City Road and its Dollar Bay scheme, which had an off-site commitment equating to 46% affordable."
"We are working on plans with Mount Anvil and Hyde which will deliver new homes and an improved store, as well as act as a springboard for further investment in the area. We will be sharing our plans with the local community before submitting an application. The Bakerloo Line extension does not facilitate the development, this is something we will bring forward as a joint venture with our development partners.
"TfL have put forward a consultation document which identifies a new station on our land. We are continuing to discuss this with them, including other potential locations in the area for the station."
The fact that the Bakerloo Line will eventually connect with this site, relieving pressure on the East London Line and overland services, makes a scheme of this size more politically viable.
|Nine Elms serves as a precedent for a large-format store as part of a mixed-use development|
"Our plans will deliver a new supermarket that offers the full Sainsbury’s range. We would make sure that there is continuity of trade as we redevelop the site.
"We’ve been delivering mixed-use schemes since 2009 and have recently opened new stores at Nine Elms and Fulham."
With thanks to Monkeyboy and 853Blog for the link.