10 ★ FTWeekend 9 November/10 November 2019
House Home
O
ld Kent Road has an image
problem. This neglected
thoroughfare south of the
riverThames,thecheapest
property on the Monopoly
board, was bombed and broken during
the Blitz. Many Londoners associate the
three-mile stretch of thoroughfare, run-
ning south-east from Elephant and Cas-
tle to New Cross, with a medieval past —
asitewherepilgrimsstoppedenrouteto
and from Canterbury.As theVictorian
music hall songWot Cher! Knocked Em in
the Old Kent Roadmade clear, this has
longbeenapoorarea.
But ever since the local authority
released its updated 2017 Area Action
Plan, the wider area has been promoted
as inner London’s ast large-scale regen-l
eration opportunity. Estate agent
Kalmars has earmarked more than
40 residential projects, many of them
incorporating high-rise towers, that
make the area “an investment opportu-
nitywithunrivalledpotential”.
The plans could transform the area —
and perceptions of it — while restoring
frayed links between districts such asgentrifyingBermondsey nd fashiona-a
ble-but-poorPeckham. About 20,000
newhomesareenvisaged,7,000ofthem
affordable, and the public consultation
summary, published this year, prom-
ised an “innovative mix of business
uses”and10,000newjobs.
Centraltothevisionistheinclusionof
linear parks in a “greener belt” that
reflects the route of an old industrial
waterway. Once known by anxious par-
entsasthe“Camberwelldeathtrap”,the
GrandSurreycanalislonggone,drained
and filled during the 1970s, but South-
wark and developers see the route as a
waytoenhancetheappealofthearea.
Johnson Situ, councillor for growth,
development and planning, says “care-
ful design” will ensure “the new OldKentRoadbecomesaplaceinwhichyou
wouldbothwanttoliveandwork”.
The extension of London Under-
ground’s Bakerloo Line is fundamental
to Southwark’s plans, he says. About
9,500homeswill be built in the first
phase,but the next 10,500 are contin-
gent on this new transport infrastruc-
ture. Twostations re planned. Backersa
are aiming for government approval in
2021, the start of construction in 2023
andcompletionby2029.
The redevelopment has been criti-
cised for prioritising high-end residen-
tial projects at the expense of about 800
businesses in the area. In gritty back
streets, hatters and stage production
companies rub up against coachworks,
timber merchants and African
churches.They meet local demand nda
they are not sure they can replicate it if
theyhavetomove.
But developers and property inves-
tors see a great opportunity. Avanton’s
Ruby Triangle scheme, including the
48-storey Sky Gem Tower, has been
approved, promising to add 1,152
Housing association blocks Alamy— Proposed Ruby Triangle development homes. So has the Cantium scheme byLondon’s last frontier
Property Old Kent Road is|
the target for a large-scale
regeneration plan, but not
everyone welcomes the
changes. ByMurray Withers
Laura HallettNOVEMBER 9 2019 Section:Weekend Time: 11/20196/ - 17:31 User:elizabeth.robinson Page Name:RES10, Part,Page,Edition:RES, 10, 1