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Galliard Homes JV's £600M London development approved

Aviva Investors and Galliard Homes Ltd. received planning consent for a new £600 million development at 520 Old Kent Road in London, Construction Enquirer reported.

The five-acre Cantium Retail Park scheme will include London's fourth-tallest residential tower, rising 48 floors, in addition to shops and offices. The residential component will comprise more than 1,000 units, divided into private sale, shared ownership and social-rented homes.

The project will include four buildings rising 37 stories, two rising 11 stories and one with nine stories, all surrounding a central podium. It will also offer 60,000 square feet of office space; 24,000 square feet of retail space; and 25,144 square feet of flexible space for restaurants, a cafe, cinema and leisure premises, along with space for cultural facilities, the publication added.

Construction is expected to last six years, according to the report.