Last week, developer Avanton announced it had snapped up the 1.6ha plot which it has earmarked for 4,600m² of offices and hundreds of new homes.
Farrells is already working with Avanton on two other projects in Old Kent Road: the £520 million Ruby Triangle skyscraper development, which was approved last year (pictured bottom), and a 262-home for the Carpertright site, which is working its way through planning.
Together the three projects are worth £795 million and will provide more than 2,100 new homes.
The latest plans for the gasworks site, described as being ’still at a very early stage’, will retain the 48.8m-high Grade II-listed Victorian gasholder, built in 1879-1881 by George Livesey.
According to the developer, the gasholder frame ’will be transformed into a striking art-like architectural feature within the central gardens and parkland of the new development’.
Proposals include a pavilion, water features and gardens within the skeleton of the gasholder, providing a ‘central feature for the residential and commercial buildings within the new development’.
Avanton managing partner Omer Weinberger said the purchase of the site highlighted the developer’s ‘commitment to investment and regeneration in the London Borough of Southwark’.
He added: ‘Our trio of projects will help to spearhead the transformation of Old Kent Road into a new town centre for London. Alongside this, there is the planned extension of the Bakerloo Line with two new stations on Old Kent Road.’
A future timescale for the project is not yet known.
APPROVED (October 2018): Farrell’s Ruby Triangle scheme on Old Kent Road