Southwark Council has selected the London and Quadrant (L&Q) Group to build and manage the first phase of the massive regeneration programme.

This will include 260 new homes, commercial units and a state-of-the art Aylesbury Resource Centre, which will provide facilities for people with sensory, neurological and physical disabilities, along with health and therapy services, adult education, employment support, and IT.

Building is expected to start on-site in Autumn 2008 with the development completed by 2013.

Don Wood, chief executive of the L&Q Group, said: "We are delighted at the prospect of being Southwark Council's partner to carry out the first phase of the regeneration of the Aylesbury Estate. This is a great opportunity to deliver the aspirations of local people. We look forward to working in partnership with the council and the local community to bring about real and positive change for residents.

"Our approach to regeneration is to improve the quality of life for residents in London's more deprived neighbourhoods. At Aylesbury we will work hard to deliver a range of quality new homes, excellent services, and significant levels of new investment into the local community and economy."