Greystar has selected McLaren Construction, McAleer & Rushe and John Sisk & Son to construct four buildings for the Bermondsey Project, which is set to provide a total of 1,624 new homes for rent in South London.
With construction having commenced earlier this year, the project is expected to welcome its first residents in autumn 2025, with the entire scheme slated for completion in the latter half of 2027.
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The development will transform a brownfield site, once a biscuit factory, into a mixed-use area featuring retail, leisure, and office spaces, as well as resident amenities such as lounges, and more.
The project includes a social housing component, with 338 social rent homes constructed by London Square, an Aldar-owned company, and managed by Square Roots, upon completion.
McAleer & Rushe is tasked with constructing two segments of the Bermondsey Project.
This includes Buildings 1-5 which will provide a mix of market and intermediate rent homes, and Building DE, a 20-storey tower with residential units and office space.
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By GlobalDataJohn Sisk & Son has been selected to erect Building ST, which consists of two towers with up to 36 storeys, housing 472 market-rent homes.
McLaren Construction is responsible for Building F, which incorporates the former packing factory, offering commercial space and new residential units.
It will also preserve parts of the former factory.
The new buildings aim to achieve Home Quality Mark 4 Star for residential areas and BREEAM Excellent for commercial spaces.
Greystar Europe investment management leader and executive director Mark Allnutt said: “This landmark development reinforces our commitment to delivering high-quality housing across all segments, from market-rent homes to social housing, while also creating new opportunities for businesses and the local community.
“We are pleased to have closed this debt facility and secured partnerships with leading contractors, who each bring unique expertise and a strong track record in delivering complex urban developments.”
Greystar also announced the closing for a £600m ($785.65m) debt facility for the project through a consortium of four lenders.
In September 2024, Greystar initiated its first apartment project, Ophelia, in Pittsburgh, US, marking another step in its global expansion.
