The breakdown for the contract awards is:
- McAleer & Rushe will handle the construction of both Buildings 1-5, which will deliver 359 homes split between market and intermediate rent, and Building DE, a 20-storey tower with 225 homes alongside a four-storey office space.
- John Sisk & Son has been chosen to build Building ST, comprising two towers of up to 36 storeys, containing 472 market-rent homes.
- McLaren Construction has been appointed for Building F, which will see the partial retention of the iconic former packing factory. This building will offer flexible commercial space on the lower floors and six storeys of new residential space above, adding 230 market-rent homes.
Site preparation work started earlier this year for the main towers with the first homes expected to be ready for occupation in the Autumn of 2025 and the whole scheme expected to be complete in the second half of 2027.
The brownfield site, situated on a former biscuit factory, will be transformed to include retail, leisure, and office spaces, as well as extensive amenities for residents such as lounges, workspaces, gyms, private dining rooms, an indoor swimming pool, and expansive roof terraces.
Greystar also confirmed a £600m debt funding facility for the scheme via a consortium of four leading lenders – Standard Chartered Bank, First Abu Dhabi Bank, Oversea-Chinese Banking Corporation and Emirates NBD.
Mark Allnutt, Executive Director, Europe Investment Management Leader, Greystar said: “We are pleased to have closed this debt facility and secured partnerships with leading contractors, who each bring unique expertise and a strong track record in delivering complex urban developments.
“Their contributions will be instrumental in ensuring that the project meets our ambitious goals, not only in delivering homes, but also creating dynamic spaces that reflect the heritage and future potential of Bermondsey.”
Ger Hayes, Managing Director, Sisk said: “Logistically, it is a challenging project due to the proximity of our site to the main line into London Bridge station, but our experience and expertise of delivering large complex high rise, high density residential and infrastructure in large public spaces will play a key role in this project’s success.”
McLaren Construction’s Managing Director for Regeneration, John Butten, added: “Working alongside Greystar who are leaders in rental housing, we will deliver Block F to the highest quality and sustainability standards, while engaging with the community and creating opportunities in alignment with the client’s objectives for the long-term prosperity of the local area.”
Darragh Greenan, Director at McAleer & Rushe, said: “We pride ourselves on being the trusted construction partner for large-scale, multi-phased regeneration schemes that aim to not only build homes but to create thriving, new sustainable neighbourhoods.”
