Construction is set to begin on a five-storey block of flats in New Malden this month, along with 25 parking spaces.
Albany House, to be located at 300 Burlington Road, will consist of 41 flats, 36 for shared ownership and five rented units.
Along with car parking, there will be 63 cycle store spaces available for residents.
Construction is expected to be finished at the start of 2020.
Kevin Clark, land and business development director at Skillcrown, said they were “thrilled” to secure the contract for the build on behalf of Wandle.
He said: “We were able to offer Wandle the comfort of a fixed build price which ultimately secured the deal.”
Pete Beggan, land manager at Wandle, said: “We are pleased that we will be able to offer the majority of homes in Albany House for shared ownership, enabling a more viable option for people who want to get onto the property ladder.”
The site was previously occupied by an MOT testing garage.
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