The 279,900 sq ft site, located on Vauxhall Walk, was purchased from Bmor, who acted for the previous owners in obtaining the planning permission for the development for 160 new homes and co-working office spaces for residents and local businesses.
The £200m GDV Graphite Square scheme will consist of one- to three-bedroom new homes, 50 of which will be affordable houses, over 80,000 sq ft of co-working space across four floors, three residential buildings ranging from nine to 13 storeys in height, 14 disabled parking spaces, a Methodist Church and landscaped communal gardens with elements to enhance biodiversity.
The scheme will be designed by Ben Adams Architects, while Trigon and Cheyne Capital were selected as lead consultant and funding partner, respectively.
The developer will be working together with Vision Construct and Halkin for the construction of the scheme, with the latter having signed a lease to manage and deliver the turnkey office and co-working spaces.
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Third.i has also partnered with Paragon Asra Housing to develop the affordable homes, 14 of which will be available to purchase under shared ownership and 36 for affordable rent.
The acquisition follows Third.i’s successful UK debut in Battersea in 2018, as it seeks to invest around London in residential, commercial, senior living and assisted living projects.
Luke Berry, founder of Third.i, said: “We’ve been looking for exciting opportunities in London for some time, and Graphite Square is the perfect embodiment of our belief in creating better places to live, work and play.
“We instantly fell in love with the architecture and place making of the project, seeing it having an ageless appeal that will become a legacy project, one we all can be proud of.
“It’s a development which we believe can have an incredible effect on the Vauxhall area and the prospects of all its residents, and we are very proud to be working with partners who passionately share our beliefs and desire to make this happen.
“We all look forward to working closely with Lambeth Council and the local community to bring our plans to fruition.”