Peabody has appointed Durkan for the construction of a new development at Higgs Yard, a former industrial site at Loughborough Junction in Lambeth. Over the next three years, Durkan will construct 134 new homes and over 45,000m² of commercial space. Designed by PRP Architects, the scheme represents an €99.3m (£85m) investment into the area and will be 50% affordable homes. This will include 28 homes for London Affordable Rent and 38 shared ownership homes, helping first-time buyers get onto the property ladder.
Peabody reworked the previous planning application, improving the quality of the design, creating a number of family-sized affordable homes and increasing the number of homes from 124 to 134. The development will now have a mix of one, two and three-bed homes and incorporate a communal landscaped podium deck at the heart of the development and a roof terrace sitting on the 17th floor.
Tom Williamson, Senior Development Manager at Peabody, said: “We are pleased that we can provide more affordable homes in Lambeth and this scheme reaffirms our commitment to our social purpose, to provide good quality homes for those who need them most. This development will not only create new homes, but it will provide new commercial space, which can be for retail or office use, revitalising the area and providing new spaces for the community.”
Ryann Peterson, Head of Bid Management at Durkan, said: “Durkan is pleased to have been successful in securing and finalising the contract to deliver Higgs Yard. This is a very exciting time for us as a business. We’re very much looking forward to continue building on our relationship with Peabody and maximising the potential of this fantastic development. Durkan has always prided itself on delivering high-quality projects and establishing strong connections with the local community so we will bring that focus to Lambeth, by providing the best possible environment in which new and existing residents to enjoy community life.”
Construction on the site is due to begin in Autumn 2021, with completion planned for early 2024.
