McLaren Construction appointed to deliver PBSA-led, mixed-use development at 182–202 Walworth Road in Elephant & Castle

Fabrix and PATRIZIA have appointed McLaren Construction as main contractor for Walworth Corners, a 134,000 sq ft PBSA development at 182–202 Walworth Road in Elephant & Castle, and the first development being delivered through their London living joint venture.

With unanimous planning consent secured in November 2024, the £55m construction contract will see the 0.34-hectare brownfield site transformed to provide 283 student beds, 20 new affordable homes for social rent, retail and community space. Enabling works are underway, with completion targeted for Spring 2028.

Walworth Corners is the first development being delivered through the joint venture established by Fabrix and PATRIZIA in 2025 with more than £100 million of investment capacity focussed on alternative living and affordable housing that responds to London's housing needs while creating wider social and environmental value. PATRIZIA provides institutional equity to the partnership as part of its wider pan-European strategy to invest in sustainable and affordable housing. Earlier this year, Fabrix secured a £69.5m green loan from Aviva Investors in development financing for the project, bringing together institutional equity and debt to move the scheme into delivery.

Designed by Howells through planning and RIBA Stage 3, with AFK as delivery architect, the scheme combines high-quality new construction with the targeted retention and extension of part of the existing concrete frame fronting Walworth Road. This will enable delivery of a new build quality scheme while reducing structural embodied carbon emissions by an estimated 21%. The all-electric, nature-positive development targets BREEAM Excellent, delivering 144% biodiversity net gain across the site and incorporating extensive green and blue roofs to support climate resilience and on-site ecology.

Filling an entire block at an important intersection of the historic London high street, the project will recast the building as an open, welcoming destination that supports Walworth’s existing and emerging communities. The scheme will turn what was a derelict and poor-quality retail frontage into an attractive and meaningful asset for the area, centred on community, food, and nature.

Almost the entire ground floor will be public-facing, with a 2,600 sq ft community kitchen co-created with local charity Pembroke House, 5,100 sq ft new high-street retail, and a publicly accessible 6,240 sq ft courtyard garden, bringing new activity and social infrastructure to the heart of Walworth Road. A new pedestrian route will improve permeability through the 60-metre-long site and draw people into the courtyard garden, designed by RHS Chelsea Flower ’Best-in-Show’-winning Harris Bugg Studio.

Louis Duffield, Partner at Fabrix, said:

"McLaren's appointment is an important milestone for Walworth Corners and for the growth of our living portfolio. We have an exceptional team in place and are excited to be moving into construction on a development that will deliver much needed student accommodation and affordable homes alongside genuinely useful spaces for the wider community.

"With institutional equity managed by PATRIZIA alongside Fabrix, together with £69.5m of development financing from Aviva Investors, Walworth Corners demonstrates our ability to structure, fund and deliver institutional quality living projects in London. We have a strong pipeline and want to do more with capital partners and landowners who share our ambition to create high quality, enduring places."‍

Tony Whyte, Divisional Director at McLaren Construction, said:

“This project is an exemplar of sustainable, mixed-use development, combining the careful retention of part of the existing structure with high-quality new construction to create long-term social, economic and environmental value. By making efficient use of a centrally-located brownfield site, the development will deliver much-needed new homes, high-quality student accommodation and enhanced community facilities, while bringing increased footfall and vitality to an important high street.

We recognise that the local community and surrounding assets are of great importance to Fabrix, and McLaren is equally committed to ensuring these relationships remain at the forefront of the project. We will continue to work closely and collaboratively with stakeholders throughout the construction phase, maintaining open communication and minimising disruption wherever possible. Our focus will be on delivering a high-quality development that not only meets its objectives but also leaves a lasting positive legacy for the area.”

Marleen Bekkers, Fund Manager at PATRIZIA, commented:

“Moving Walworth Corners into construction shows how institutional capital can translate into new homes in markets like London, where the need for housing remains significant. It is part of a wider strategy through which PATRIZIA is supporting the delivery of much-needed housing in markets across Europe.”

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