Phases 3 and 4 will consist of 314 residential homes – 87 for private sale, 58 Homebuy Direct, 127 general needs rent and 42 intermediate rent properties. The homes will vary in size across the tenures from one bed to four bed homes. There are six fully wheelchair adapted units for rent and 16 wheelchair accessible homes across the rest of the scheme.

Hyde has been working with Southwark since 2004 to deliver the regeneration of the Bermondsey Spa area. Phases 3 and 4 of Hyde’s programme will see three existing 1950s blocks demolished and the sites overlooking Jamaica Road re-developed with new affordable housing and commercial premises.

“These new developments will consolidate the regeneration of this part of Bermondsey with more very high quality new homes, further substantial home ownership opportunities to create a balanced tenure mix, as well as introduce new retail and commercial space to bring job opportunities into the area,” says Ian Hagger, Hyde’s Director of Development.

The Leader of Southwark Council, Cllr Nick Stanton, said he was delighted that the massive makeover of Bermondsey was continuing at its fast pace:
“Our plan to transform Bermondsey is now a reality. It is no longer a drive through for Londoners, but is fast becoming one of the capital’s most fashionable and desirable places to live.

“New homes, surrounded by great shops, restaurants, parks and open spaces, in a thriving part of town, is what Southwark’s regeneration is all about.”
Hyde is investing £17.1m in this latest part of the programme, and has received funding of £30.1m from the Homes and Communities Agency (previously the Housing Corporation) under its National Affordable Housing Programme (NAHP).

A new public square will also be created on the corner of Abbey Street and Jamaica Road which will form a landmark gateway into the newly regenerated Bermondsey Spa; and a new food store with café and commercial space will be built. Landscaping has been designed to create a high quality urban environment with its own character and identity. The redevelopment will be completed by January 2013.

Redevelopment of Site G began in December 2009 and will provide a further 24 new homes for affordable rent together with commercial space. Demolition of existing buildings is well underway and new homes will be ready for occupation in June 2011.

John Campion, MD of the Southgate Office of Willmott Dixon Housing said: “We are delighted to be working with Hyde in continuing the regeneration of this part of Bermondsey. Our work will help give long term benefit to residents and help enhance their living local environment.”
Overall, Hyde has invested some £44,5 million in the regeneration of Bermondsey Spa.