Mitheridge Capital Management (Mitheridge), the alternative investment firm, and the property development company SGN Place today announce the formation of a joint venture to unlock and regenerate the former gas works off Swandon Way – one of the last undeveloped sites in Wandsworth town centre, southwest London.

Mitheridge has also funded the joint venture to acquire a site immediately next to the former Wandsworth gas works site. The two sites combined amount to 1.4 hectares, stretching from the River Wandle in the west up to Swandon Way in the east.

A mixed-use residential development is planned for the site which could see in excess of 700 homes of a mix of tenures built over the next six years, along with bars, restaurants and a creative workspace. Approximately 35% of the new homes built at the Wandsworth site will be affordable homes.

The site sits in the heart of Wandsworth, in London’s Zone 2, providing easy access to all parts of Central and South London. Wandsworth Town station is a five-minute walk to the east, and one stop from the UK’s busiest train station Clapham Junction. Direct trains to London Waterloo take just 15 minutes.

William Yerburgh, Managing Partner of Mitheridge, said: “Not only do our projects generate long-term value for our investors, but they also address the need for more affordably-priced homes. Our partnership with SGN on this project, and our shared aspirations around quality and social value, will unlock the potential of this great site and ensure that it is a positive and long-lasting addition to Wandsworth Town Centre.”

Simon Reilly, Commercial Director of SGN, said: “We are delighted to be entering into a joint venture with Mitheridge to develop the Wandsworth site. We have already successfully unlocked the constraints surrounding the site, leaving it ready for development. Together, we’re committed to turning the former gasworks into much-needed housing for the Wandsworth community, including a significant proportion of affordable homes.”