Under the £500m plan targeting mid-market housing Grosvenor will provide homes on a range of discounted market rents, reaching a wider spectrum of people.

The plan to develop a 12-acre former biscuit factory site has been designed by Kohn Pedersen Fox Associates and also includes a new 600-place secondary school at its heart, over 110,000 sq ft of new public spaces and almost 20,000 sq ft of new playspace.

Grosvenor is testing its latest proposals after two years of local interaction and discussion.

Craig McWilliam, Chief Executive of Grosvenor Britain & Ireland, said: “London’s housing shortage is too often creating polarised outcomes, with homes for the few who can afford to buy them, and those allocated social rented accommodation.

“We are sharing our ambitions in Bermondsey to meet the needs of many on low and middle incomes who are locked out of London’s housing market.

“We want to help create one of London’s greatest neighbourhoods for people of mixed incomes, backgrounds and life stages. We want to manage these rental homes for the long term, responding to changing needs and extending Bermondsey’s rich history at the heart of a growing, global city.”