The nine-storey development will regenerate a brownfield site on New Kent Road.

Over the course of the project, which is due to be delivered in 2027, the development is expected to generate revenue of £36m for Watkin Jones.

Alex Pease, CEO of Watkin Jones, said: “This development partnership underscores our market-leading expertise in constructing residential for rent real estate.

“It demonstrates our ability to continue to be proactive in leveraging our skills and experience by being flexible in our approach, as we continue our strategy to diversify our income streams and broaden our offering.”