Housing association Peabody has awarded Durkan a tender to develop a housing scheme in Lambeth, south London. For the next three years, Durkan will deliver 134 new homes and more than 45,000 square metres of commercial space at Higgs Yard, which was the industrial site at Loughborough Junction. The project designed by PRP Architects, represents an investment worth £85m and will be a half affordable homes.It is the major single development which Loughborough Junction has received since the Loughborough Estate was built in the 1950s.
Works on the housing scheme in Lambeth is due to start this Autumn, planned to complete in early 2024.
Tom Williamson, Senior Development Manager at Peabody, uttered that earlier plans had been reworked for a better mix of one, two and three-bed homes and will have a communal landscaped podium deck at the centre of the development and a roof terrace sitting on the 17th floor.
Ryann Peterson, Head of Bid Management at Durkan, said: “Durkan is excited to have been successful in securing and finalising the tender to develop Higgs Yard. This is a very exciting moment for us as a business. We’re very much looking forward to grow our relationship with Peabody further and maximising the potential of this housing scheme in Lambeth.”
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Renting in Lambeth
If you’re planning to live in Lambeth or another neighbouring inner London boroughs, primarily in travel zones 1 to 3, then private renting will cost upwards of £600 to £800 per month, most unlikely to be in a place of your own. You’ll be either renting a room in a flatshare by finding rooms on places like SpareRoom or RoomBuddies and the ubiquitous Gumtree.
Many will realize that the cost is close to or more than £1000 monthly when it comes to sharing flat or house with friends or colleagues who come together to rent a larger space, but then the options for location, size and standard will be getting better.
