Peabody in the news

Peabody has bought the former St Olave’s House Nursing Home from the NHS

The 0.3-hectare site currently features two vacant buildings: the former nursing home and a temporary building for a former ambulance centre. The site, which is located on Lower Road near Canada Water, is surplus to NHS requirements and the £8m generated from the sale will be directly reinvested in the NHS.

The site of St Olave's is outlined in red above

Dan Hotson, Senior Transaction Manager for NHS Property Services, said: "This disposal will generate vital funds for the NHS, while simultaneously delivering much needed housing for London on what is currently an unused site in a prime Southwark location."

Richard Evans, New Business Director at Peabody, said: "We’re excited about the opportunity to deliver affordable housing on this unused site, whilst providing significant income to be reinvested in the NHS. We look forward to working with our local partners and the community as we develop our plans."