At Southwark Notes, we motley collection of council tenants and private renters and mere mortals often fail to understand the very local world that we spent too much time researching. Here is one good example.
One of our favourite Elephant property developers Oakmayne were responsible for one of the first new expensive apartment blocks in Walworth when they made the South Central building off of Steedman St. It was finished by 2005. After this time, Oakmayne acquired the Elephant Rd site, closer to Old Kent Rd for a large set of three towers and other amenities plus zero social rented homes. To cut a long story short and as we understand it, they didn’t do too well on the financing side and the site remained a desert for years. Saga is here! In late 2012, the site was taken over by Delancey.
Now, when one buys a top floor flat of a new swanky apartment block off Walworth Rd (as you do!), do you expect that the ‘top floor’ part of it has meaning. Doesn’t that really mean you are at the top of your game. There are no mere mortals like ourselves thumping up and down on your ceiling on our mini-trampoline or jogging circuits round all that luxury space and making a right earful of racket. Anyhow, as you can see in our picture, the last year has seen the mushrooming on top of the top floor of a new penthouse at South Central thus making…arghhh…a new top floor! The company responsible for this are Fisherking who for all extents and purposes judging by their announced portfolio being the same as the old Oakmayne one, one and the same, minus a few directors here and there. Chris Allen, one time of Oakmayne and living in Monaco fame (as was or is?), is one of the the main cheeses again. Price is a cool £1,350,000 for the new top floor flat! Unsurprisingly, as we no longer have any surprise credit left, is that it has been bought, subject to terms, already!
Is there no limit to this? In five years time will financial urgencies demand that a new set of penthouses be added on top of those that have just been built. It’s a never-ending regeneration funny! Unless you live in the flat formerly known as ‘the top floor’.