B&Q to be Offered First Refusal on Space at Old Kent Road Development

Planning permission has been granted for a £600m redevelopment scheme for London's Cantium Retail Park on Old Kent Road, which may force B&Q to leave or take a smaller unit.

The Old Kent Road Action Plan scheme, developed by Southark Council, was originally announced in March 2018 and will see the Cantium Retail Park converted into 1,113 new homes in towers of up to 48 storeys, and create 521 new jobs. 

Residents have expressed concern over the design and height of the towers which, when completed, will be among the tallest residential buildings in London; as well as the lack of affordable and family properties in the plans, and the loss of retail space.

Community action group Vital Old Kent Road noted the plans showed a 40,000 sq ft reduction in retail space which could potentially push out incumbent retailers including B&Q and Halfords.

Mark Brearley, the owner of a local manufacturing company and a member of the Vital Old Kent Road group, said: "This scheme highlights the parallel failure to accommodate retail businesses. Officers are recommending approval of a scheme that would reduce retail floor space by around 40,000 sq ft, pushing out B&Q who have made clear that they do not want to leave.

“But we should shout back that 50 jobs here, 60 jobs there, should not be belittled, thrown away lightly, after all that’s peoples’ livelihoods and their self-respect.”

Planning staff from Southwark council responded to say: “Officers have been working with the applicant to ensure B&Q would be offered part of the destination space.

B&Q would be offered first refusal on the destination space, at normal market rates. The plan makes provision for 437sqm of potential space for B&Q.”

The development is expected to take around six new years to complete.

The executive chairman of Galliard Homes - the site developer - Stephen Conway, said: “The regeneration of Cantium Retail Park will serve to kick-start the wider planned regeneration and transformation of the entire Old Kent Road into a vibrant new high quality commercial, retail and residential destination for South London.”

Source : Insight DIY Team

Image: Michaelpuche / shutterstock.com

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