The historic owner of swathes of Mayfair and Belgravia is looking beyond its traditional heartland in London with plans to build 800 homes in a disused biscuit factory south of the River Thames.
Grosvenor Estates, the Duke of Westminster's property company, today announced plans to build the homes in Bermondsey, as part of a £51m deal with property group Workspace.
The 11-acre site near Tower Bridge was once the hub of the Victorian food industry and the site of the Peek Frean biscuit factory. The Grosvenor chief executive Peter Vernon said: "This is a very exciting opportunity for Grosvenor to help transform two currently underused sites in a vibrant London location."
The housing development will include private rentals, affordable housing and community facilities, and Grosvenor will also build a new office complex for Workspace as part of the deal.
Jamie Hopkins, chief executive of Workspace, said: "We are delighted to have a partner of the calibre and track record of Grosvenor to take forward the residential component of the redevelopment. "Once completed this will be a thriving residential and business location."