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Sun April 11 2021

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Approval for Raynes Park housing

22 Sep 15 Commercial property developer Workspace has secured planning permission to build 224 residential units on a southwest London industrial estate.

Rainbow Industrial Estate
Rainbow Industrial Estate

The London Borough of Merton has approved the redevelopment of Rainbow Industrial Estate in Raynes Park.

The site currently consists of low-rise industrial units and open yard. It was valued at £10.5m in March 2015.

Workspace has secured mixed-use planning consent to replace the existing buildings with a redevelopment comprising 224 residential units, including a mix of townhouses, private apartments and 15% affordable housing, plus 37,000 square feet of new commercial and light industrial space.

Workspace chief executive Jamie Hopkins said: “The redevelopment will considerably increase the capital value of the site, reinforcing our ability to drive shareholder returns through active asset management.”

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