Galliard Homes has completed its purchase at the former Royal Mail sorting office, picking up 0.9 acres for £22.2m.
EG reported in September that the developer had taken plot C of the former South London Mail Centre, now known as Nine Elms Parkside.
The site has planning for 262 homes, and Galliard has now said 25% of these will be affordable.
The former South London Mail Centre covers 14 acres, 8.35 acres of this spanning seven plots will be developed, with outline planning granted by Wandsworth Council in March 2012.
Royal Mail has been selling the site plot-by-plot, after attempts to sell the entire scheme to Ballymore in 2015 fell through.
This is the third plot to be sold, after Greystar bought plots B and D, which have planning for 894 homes, for £101m.
Martin Gafsen, group director for property and facilities solutions at Royal Mail, said: “The sale of the third plot on our Nine Elms site to Galliard Homes marks the next step in our contribution to the emerging residential community in this exciting new area of the capital.”
Galliard Homes executive chairman Stephen Conway said: “The wider regeneration area is creating a new destination for South London and has already attracted several major occupiers.”
Savills advised Royal Mail on the sale. The deal means that now just plots A, E, F and G , which will consist of 794 homes, remain available for development.
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