This month, we started works bringing five abandoned railway arches on Camberwell Station Road into use. These spaces will be given a new lease of life thanks to £1.1m investment from The Arch Company.
Arches 344-348 have been vacant for over five years and when we took on the portfolio, were unlettable. We’ve seen the demand for light industrial space in the area, as well as the opportunity these arches would provide for new businesses, and are investing significantly to ensure these spaces reach their potential. Our investment will ensure the arches become quality places for businesses to thrive within.
The works taking place include fully stripping out and relining each of the arches, replacing the concrete slabs, installing toilet facilities, restoring utilities such as water and electricity and replacing the exterior with smarter shutters, to create a far superior frontage. The development works have been supported by Southwark Council’s plans, who will similarly be investing £1.5m into improving the public realm from later this year. This includes £1m from the GLA’s Good Growth Fund.
Southwark Council’s scheme has been developed in close collaboration with local partners, including the Camberwell Identity Group and SE5 Forum. The public space will undergo major improvements, including better lighting, more trees and street furniture, and widening the street.
Further spaces on Camberwell Station Road – including the former station building – are also being considered for future retrofit plans. This is all under our £200m development plan – Project 1000 – to bring a thousand empty or derelict spaces into use across England and Wales by 2030.
Craig McWilliam, CEO at The Arch Company, said:
“We look forward to creating five additional productive spaces in the heart of Camberwell, which will in turn support up to 25 new jobs for the area. Our Project 1000 investment plans are the biggest retrofit project in commercial property, with a thousand empty or derelict spaces such as this nationwide being brought into use by 2030. We will invest in further spaces in Camberwell under this development plan.”
Cllr James McAsh, Cabinet Member for Climate Emergency & Sustainable Development, said: “We very much welcome The Arch Company bringing these five empty arches back into use for small businesses to call home. Together with the £1.5m we secured to improve the public space, their investment and the local community’s input is helping us to completely transform the street. We look forward to seeing new businesses thrive and our residents enjoying the new, greener environment designed with walking and cycling in mind.”
Sandy Yau, Senior Leasing Manager at The Arch Company said:
“We look forward to marketing these properties later this year, as we anticipate that interest will be strong. There is a vibrant local community that will contribute towards businesses thriving here. I would encourage any interested businesses to visit our website, where details to get in touch will be listed once the spaces are available.”
The Arch Company took on ownership of Camberwell Station Road in 2019, after purchasing 5,200 spaces from Network Rail. At the point of sale, 1,400 spaces were left vacant, and require significant investment and development before they will be suitable for occupation.
For more information about spaces to let in Camberwell, please visit here.
Or for more information on Southwark Council’s plans, please visit their website here.