The firm has just acquired a gasholder site that it will remediate to pave the way for hundreds of homes and over 50,000 sq ft of light industrial commercial use.
Plans for the Gasholders site are still at a very early stage but will include keeping the 49 metre high main Grade II listed Victorian gasholder, originally built in 1879-1881 by George Livesey.
The gasholder frame will be transformed into a striking architectural feature within the gardens and parkland of the new development.
Within the skeleton of the gasholder, there are plans for a pavilion, water features and gardens to create a focal point for the residential and commercial buildings within the new development.
Avanton now owns three major sites on Old Kent Road, making it the biggest investor and developer on the OKR regeneration area.
Alongside the Gasholders site, Avanton has already gained planning permission for 1,152 new homes and a sports centre on the Ruby Triangle site which the developer plans to launch in 2020.
Avanton’s third site at 651 Old Kent Road, the 262-home Carpetright scheme, is also in the planning system.
Omer Weingberger, Managing Partner at Avanton said: “Avanton’s acquisition of the Gasholders site on Old Kent Road highlights our commitment to investment and regeneration in the London Borough of Southwark.
“Our trio of projects will help to spearhead the transformation of Old Kent Road into a new town centre for London. Alongside this there is the planned extension of the Bakerloo Line with two new stations on Old Kent Road.”
Old Kent Road is undergoing a £10.7 billion regeneration with new homes, and workspace for up to 10,000 new jobs, commercial, retail and leisure facilities.
The Council’s Old Kent Road Opportunity Area envisages three new schools and nine school extensions, alongside £3.1 billion invested in upgraded transport facilities, chiefly the new Bakerloo Line Extension.