Greystar's 1,600-home Pearl Yard Bermondsey rises in just three years
Press Release
November 27, 2025
Rental-led regeneration transforms the former Biscuit Factory site into a vibrant new London neighbourhood.
London, 27 November 2025 – Greystar, a global leader in the investment, development and management of rental housing, has delivered the first homes at Pearl Yard Bermondsey, a landmark rental-led neighbourhood that has risen in just three years since its acquisition on the long-dormant brownfield site formerly known as The Biscuit Factory.
Named after "The Pearl", the first biscuit baked on the original Peek Freans factory site, the new neighbourhood celebrates Bermondsey’s industrial heritage while looking to the future. When complete, it will provide 1,600 new homes with residents due to move into the next phase from January 2026. The scheme has been brought forward in close collaboration with the London Borough of Southwark, transforming one of the area’s most significant regeneration opportunities.
As part of the wider regeneration, Greystar is delivering 35% affordable housing, a new secondary school, affordable workspace and high-quality public realm, in line with Southwark’s policy ambitions. The scheme will also provide around 150,000 sq ft of non-residential space, designed to complement the thriving mix of independent businesses within The Blue - Bermondsey’s historic marketplace and high street - and to activate new ground-floor uses that strengthen connections with the existing community.
At a time when housing delivery across London has fallen to historic lows, Pearl Yard Bermondsey demonstrates how private capital working alongside local government can unlock stalled sites and accelerate regeneration. Anchored by rental housing, the project shows how this tenure can act as a catalyst for placemaking - enabling community facilities, green space, affordable homes and neighbourhood amenities to be delivered together from the outset.
Daniel Thompson, Managing Director – UK Development, Greystar, said: “Delivering the first homes at Pearl Yard Bermondsey marks an extraordinary milestone in the regeneration of this former factory site. Transforming land that has been empty for decades in just three years, reflects the strength of our partnership with Southwark Council, the dedication of our delivery partners and the tenacity of our in-house experts. With our vertically integrated platform, we oversee every stage - from acquisition and design through to construction and operations - allowing us to move quickly while maintaining quality and long-term resilience."
Cllr Helen Dennis, Cabinet Member for New Homes and Sustainable Development, said: “We are delighted that by working in partnership with Greystar, 1,600 new homes are being built in the heart of Bermondsey at an incredible pace. This includes providing over 400 affordable homes as a priority for local residents in the greatest need, meeting our 35% target for affordable housing, which includes 25% of properties being social rent. In addition to the benefit of new homes, the Pearl Yard Bermondsey includes a new school and workspaces – creating jobs and training opportunities.”
Each home at Pearl Yard Bermondsey has been designed with renters in mind, featuring high-speed connectivity, outdoor space and built-in storage. Beyond their front door, residents will benefit from a wide range of amenities included in the rent - from co-working lounges and wellness facilities to a pool, games room, dining spaces and rooftop terraces.
Tom Lord, Senior Director – UK Operations, Greystar, said: “We always begin from the inside out. Pearl Yard Bermondsey has been designed by thinking carefully about how people will actually live in these homes - how they use space, connect with their community and balance work and wellbeing. It’s not just about buildings but about creating places that quietly make life better. With the backing of our global expertise and the support of dedicated onsite teams, residents here will experience a new standard of rental living tailored to Londoners.”
Pearl Yard Bermondsey’s SE16 location places residents’ minutes from the Jubilee line and moments from Southwark Park, with Bermondsey’s cafés, markets and creative businesses on its doorstep. Managed by Greystar’s onsite team, the community offers consistency, service and security setting a new benchmark in London’s rental market.
Pearl Yard Bermondsey builds on Greystar’s successful delivery of Greenford Quay in Ealing, a canal-side regeneration scheme that transformed a former industrial site into a thriving neighbourhood of more than 2,000 rental homes alongside new parks, schools, workspace and community facilities. As the UK’s first large-scale build-to-rent neighbourhood, Greenford Quay has become a benchmark for rental-led regeneration. Together with Pearl Yard Bermondsey, these projects underscore Greystar’s track record of delivering complex, large-scale regeneration schemes that anchor new communities and bring lasting benefits to the UK.
Find out more information about Pearl Yard Bermondsey here.
London, 27 November 2025 – Greystar, a global leader in the investment, development and management of rental housing, has delivered the first homes at Pearl Yard Bermondsey, a landmark rental-led neighbourhood that has risen in just three years since its acquisition on the long-dormant brownfield site formerly known as The Biscuit Factory.
Named after "The Pearl", the first biscuit baked on the original Peek Freans factory site, the new neighbourhood celebrates Bermondsey’s industrial heritage while looking to the future. When complete, it will provide 1,600 new homes with residents due to move into the next phase from January 2026. The scheme has been brought forward in close collaboration with the London Borough of Southwark, transforming one of the area’s most significant regeneration opportunities.
As part of the wider regeneration, Greystar is delivering 35% affordable housing, a new secondary school, affordable workspace and high-quality public realm, in line with Southwark’s policy ambitions. The scheme will also provide around 150,000 sq ft of non-residential space, designed to complement the thriving mix of independent businesses within The Blue - Bermondsey’s historic marketplace and high street - and to activate new ground-floor uses that strengthen connections with the existing community.
At a time when housing delivery across London has fallen to historic lows, Pearl Yard Bermondsey demonstrates how private capital working alongside local government can unlock stalled sites and accelerate regeneration. Anchored by rental housing, the project shows how this tenure can act as a catalyst for placemaking - enabling community facilities, green space, affordable homes and neighbourhood amenities to be delivered together from the outset.
Daniel Thompson, Managing Director – UK Development, Greystar, said: “Delivering the first homes at Pearl Yard Bermondsey marks an extraordinary milestone in the regeneration of this former factory site. Transforming land that has been empty for decades in just three years, reflects the strength of our partnership with Southwark Council, the dedication of our delivery partners and the tenacity of our in-house experts. With our vertically integrated platform, we oversee every stage - from acquisition and design through to construction and operations - allowing us to move quickly while maintaining quality and long-term resilience."
Cllr Helen Dennis, Cabinet Member for New Homes and Sustainable Development, said: “We are delighted that by working in partnership with Greystar, 1,600 new homes are being built in the heart of Bermondsey at an incredible pace. This includes providing over 400 affordable homes as a priority for local residents in the greatest need, meeting our 35% target for affordable housing, which includes 25% of properties being social rent. In addition to the benefit of new homes, the Pearl Yard Bermondsey includes a new school and workspaces – creating jobs and training opportunities.”
Each home at Pearl Yard Bermondsey has been designed with renters in mind, featuring high-speed connectivity, outdoor space and built-in storage. Beyond their front door, residents will benefit from a wide range of amenities included in the rent - from co-working lounges and wellness facilities to a pool, games room, dining spaces and rooftop terraces.
Tom Lord, Senior Director – UK Operations, Greystar, said: “We always begin from the inside out. Pearl Yard Bermondsey has been designed by thinking carefully about how people will actually live in these homes - how they use space, connect with their community and balance work and wellbeing. It’s not just about buildings but about creating places that quietly make life better. With the backing of our global expertise and the support of dedicated onsite teams, residents here will experience a new standard of rental living tailored to Londoners.”
Pearl Yard Bermondsey’s SE16 location places residents’ minutes from the Jubilee line and moments from Southwark Park, with Bermondsey’s cafés, markets and creative businesses on its doorstep. Managed by Greystar’s onsite team, the community offers consistency, service and security setting a new benchmark in London’s rental market.
Pearl Yard Bermondsey builds on Greystar’s successful delivery of Greenford Quay in Ealing, a canal-side regeneration scheme that transformed a former industrial site into a thriving neighbourhood of more than 2,000 rental homes alongside new parks, schools, workspace and community facilities. As the UK’s first large-scale build-to-rent neighbourhood, Greenford Quay has become a benchmark for rental-led regeneration. Together with Pearl Yard Bermondsey, these projects underscore Greystar’s track record of delivering complex, large-scale regeneration schemes that anchor new communities and bring lasting benefits to the UK.
Find out more information about Pearl Yard Bermondsey here.