Workspace secures planning consent for Wandsworth mixed-use redevelopment
Workspace Group has been granted planning consent for a mixed-use redevelopment of two adjacent properties which it owns at Riverside and Garratt Lane, in Wandsworth, SW18.
The 5.4 acre site currently comprises 145,000 sq. ft. of office, leisure and light industrial space, with a rent roll of GBP2.5 million and a property valuation of GBP46 million as at 31 March 2020.
The planning consent is for a new 106,000 sq ft business centre and 65,000 sq ft of new light industrial space, both on Garratt Lane, and 402 residential apartments set back from the road along the River Wandle, including 35 per cent affordable housing. Garratt Lane is just 500m from Earlsfield station, providing fast access to London Waterloo and Victoria and within easy reach of Wimbledon, Putney and Wandsworth town centres.
Commenting on the announcement, Graham Clemett, Chief Executive Officer of Workspace, says: “This planning consent is a great example of our employment-led regeneration approach in an area we know well. It will create a vibrant destination for businesses of all sizes, alongside delivering much needed well-designed apartments attractively located alongside the River Wandle. These projects are a key part of our growth strategy, expanding our footprint and generating increased value for our shareholders and the communities we serve.”