Royal Mail have sold a 0.9 acre plot at Nine Elms Park in Vauxhall to London developer Galliard Homes for £22.2m in cash.
Galliard plans to develop 262 residential units on the site of which 25% will be affordable housing in a partnership with O’Shea. The Nine Elms Park site, formerly the Royal Mail South London Mail Centre, covers around 14 acres, around half of which has outline planning consent for development as seven separate plots.
Stephen Conway, Executive Chairman of Galliard Homes said: “Galliard Homes is pleased to have acquired this central London consented site, which once complete will be located within a park setting, just a short walk to the River Thames and Houses of Parliament. The wider regeneration area is creating a new destination for South London and has already attracted several major occupiers.”
This latest scheme is another step towards the transformation of a once industrial area into a new commercial and residential district. The site is one of a number of London operational sites the once publicly-owned Royal Mail has cashed in on in recent years.