Plans have been unveiled for a £500 million build to rent development in London.

Grosvenor is proposing to build around 1,500 new rental homes on a 12-acre former biscuit factory site in Bermondsey.

Designed by Kohn Pedersen Fox Associates, the scheme also involves building a new 600-place secondary school, over 110,000 square feet of new public spaces and almost 20,000 square feet of new playspace.

In addition, approximately 85,000 sq ft of ground floor retail, food, leisure and culture space would be added with shops, services and facilities open to the community.

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Craig McWilliam, Chief Executive of Grosvenor Britain & Ireland, said: "London's housing shortage is too often creating polarised outcomes, with homes for the few who can afford to buy them, and those allocated social rented accommodation. We are sharing our ambitions in Bermondsey to meet the needs of many on low and middle incomes who are locked out of London's housing market.

"We want to help create one of London's greatest neighbourhoods for people of mixed incomes, backgrounds and life stages. We want to manage these rental homes for the long term, responding to changing needs and extending Bermondsey's rich history at the heart of a growing, global city."

(LM/JP)