Global real estate advisor, Colliers International’s residential development team has disposed of Bond House, a building comprising artist studios, split across the second and third floor, on a 0.6 acre (0.24 ha) site in New Cross, to Crest Nicholson.
Bond House was constructed in the early 1970s and was used for business, storage and distribution purposes. It is located in an area that is undergoing significant regeneration around New Cross station. With excellent public transport links and local amenities, there is an opportunity for the site to be redeveloped into an 89 unit mixed use scheme comprising 77 private residential homes; 12 mixed affordable tenure apartments and 862 sq m of flexible commercial space.
Andrew White, Residential Development Director at Colliers International commented: “In 2011 New Cross was identified in the Mayors London Plan as one of the most opportune areas for growth in South East London. New Cross has subsequently started to see significant inward investment which is beginning to transform the area’s look and feel. Bond House is an exciting regeneration scheme and this sale will provide a strong long term investment which will also be a large benefit to the community.”
Trevor Selwyn, Managing Director of Crest Nicholson London said: ““We are pleased to be playing a role in the regeneration of Lewisham, which is one of Greater London’s leading first time buyer hotspots. Bond House demonstrates this, with 95% of the private homes available through London Help to Buy. Throughout 2017, our focus remains on developing London sites that offer affordable home ownership options and strong transport links to the centre of the capital.”
Colliers International acted on behalf of a private vendor.