Galliard Homes, Acorn Property Group and Otterlo London, in consortium, have finalised a development agreement with the Corporation of Trinity House to redevelop a vacant urban block within the historic Trinity Village behind Borough High Street, SE1.
The consortium was selected for their vision to transform the 21,500sqft 1960's former post sorting office on Harper Road, and the 11,000sqft 1930's former Crown Court on Swan Street, into new housing. Haworth Tompkins, architect of the acclaimed Young Vic Theatre, has been appointed to draw up plans for an apartment scheme and mews houses that will compliment the calm enclave of adjacent Georgian squares.
Trinity House was incorporated in 1514 by Henry VIII to regulate pilotage in the ‘Kings’ streams’. The land that is now Trinity Village was endowed in 1660 to Trinity House, in return for £1669, the equivalent of 7 years rent. Today the estate generates valuable income that funds a large number of causes supported by the Trinity House Maritime Charity.
The development agreement is a sophisticated framework that allows Trinity House to realise the development value in partnership with experts whilst remaining insulated from the risk. The framework is uniquely structured in that the parties are incentivized to design and deliver a durable scheme that is suitable for truly long term housing stock.
Stephen Conway, Chief Executive of Galliard Homes said: “This is a rare and exciting opportunity to bring forward an exemplar residential development on this historic estate. Trinity Village is a hidden oasis with distinctive architecture surrounded by urban bustle. I look forward to demonstrating the consortium's mix of experience and skill in mastering complex urban situations and placemaking.”
Commenting on the appointment, Commander Graham Hockley, Clerk to the Trustees of Trinity House, commented “We are delighted to have appointed the Galliard/Acorn/Otterlo team at Harper Road. This is the 500th anniversary of the founding of Trinity House and in this year of reflection we are especially anxious to maintain investment in our estate for the years to come. This transaction has been designed to create a long term income stream for our charitable activities and we look forward to delivering a new building of which we can all be proud of.”
Acorn and Otterlo London coordinated the consortium's bid and are currently managing the design and planning stages. Galliard Construction will be the contractor. Acorn and Galliard Homes will manage the delivery and sale of the development. The development will be completed in 2017.
The Corporation of Trinity House was represented by
Galliard/Acorn/Otterlo were unrepresented.
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