UK’s Aviva, Galliard to develop Cantium Retail Park with $795.7 mln pump in

London-based asset manager Aviva Investors in collaboration with property developer Galliard Homes has received a resolution to grant planning permission from Southwark Council for the companies’ proposals to redevelop the Cantium Retail Park.

The companies will redevelop the property into a new mixed-use destination for the Old Kent Road with 600 million pounds ($795.7 million) investment.

The development will include a landmark 48-storey, 525 feet or 160 meters, residential tower, which will become the fourth tallest residential tower in London once finalized.

The new destination will provide 1,113 new homes, 60,913 square feet (sq ft) of office floorspace, 23,982 sq ft of retail space, 25,144 sq ft of flexible space for restaurants, café, cinema and leisure premises and 6,415 sq ft of space for cultural facilities.