The Old Kent Road, famously the cheapest property on the Monopoly board, is at the centre of a contentious redevelopment battle. Southwark Council's masterplan promises 20,000 new homes over 20 years, with nearly 60 per cent classed as affordable. But campaigners argue the definition of 'affordable' is misleading and that the plan fails to address the borough's severe housing crisis.
Affordable housing definition sparks debate
Under the Old Kent Road Area Action Plan, the council targets 7,000 affordable homes, including social rented homes and other tenures at below-market rates. However, Save Old Kent Road and SHAPE (Southwark Housing and Planning Emergency) estimate that only up to a quarter of these—around 5,000—could be social rented. This falls far short of the 22,000 households on Southwark's housing waiting list and 10,000 residents in temporary accommodation.
Liz Wyatt from Housing Action Southwark Lambeth (HASL) told the Local Democracy Reporting Service: 'With the Old Kent Road regeneration, Southwark Council could finally guarantee our communities the high-quality, safe, secure family-sized council homes we need. Instead, their current plans will push working-class communities out of London and worsen the violence of the devastating homelessness crisis.'
Campaigners fear towers and displacement
Protesters marched down the Old Kent Road in a recent demonstration, voicing concerns that the new homes and facilities will push out existing residents and businesses. They point to a lack of commitment on the exact number of council homes and fear a proliferation of towers over 20 storeys that will be 'mostly not affordable'. The second half of the 20,000 homes is dependent on the Bakerloo line extension, for which funding has not yet been secured.
Wyatt added: 'The Old Kent Road Area Action Plan might pass the council's unambitious target for 35 per cent affordable and social housing, but in reality developers are building massive sites on the Old Kent Road with as little as 12 per cent affordable and social housing. The only housing that is genuinely affordable is council housing.'
Council defends plan as opportunity
Leader of Southwark Council, Cllr James McAsh, defended the plan as a chance to tackle the housing crisis and build more 'genuinely affordable' homes. He noted that 59 per cent of new homes currently being built in the Old Kent Road area are affordable, with 41 per cent at social rent. 'This is much higher than the average across London – but there is plenty more to do. We will do our best to raise these numbers even further,' he said.
Cllr McAsh highlighted recent successes like the Tustin Estate, which saw 162 new council homes completed, and the 215 council homes starting on the Ledbury Estate. 'We will work with developers to get the best possible deal for our borough, with our plans shaped by residents’ priorities. Under this administration, Southwark Council is accountable to the people of Southwark,' he added.
Planning inspector's decision pending
The council's plans were examined by a Planning Inspector last month. The inspector is reviewing all evidence, with a report due in September 2026. The outcome will determine whether the masterplan proceeds as proposed or requires modifications to address the affordable housing concerns.
