Bermondsey Square land transfer deal secured

Urban Catalyst, the council's preferred developer for this site since 1999, will be retained as Igloo's site agent.

Designed by Munkenbeck & Marshall architects, the scheme will deliver a major new cultural facility and enhanced market space including a 3-star hotel, 63 residential units, commercial units, an outdoor cinema and public square. The developers have six months to begin construction and the scheme is expected to take 20 months to complete.

Site hoardings will shortly go up around the perimeter of the site to protect it in advance of construction. The world-famous Bermondsey Square antiques market will continue trading from the square every Friday and will be promoted throughout construction via signage and advertising. The new scheme will provide space for 200 market stalls with toilet and refreshment facilities for antiques traders and their clients.

"We are delighted that this major regeneration project in the heart of the borough has taken another major step forward," commented Paul Evans, Southwark's director of regeneration.

Bermondsey Square incorporates the ruins of the 10th century Bermondsey Abbey, which is a Scheduled Ancient Monument. Extensive archaeological investigations have been taking place over the past year and have unearthed significant findings including the remains of 17th century dissenters chapel.