Market Leads & Opportunities
First plans approved for Londons £1bn regeneration project
The first plans for a £1bn housing regeneration scheme in London have been approved.Joint venture partners Havering Council and Wates Residential submitted plans for the Napier and New Plymouth House site in Rainham in May this year.On 10th October, the proposals were agreed at a Strategic Planning Committee meeting – plans will now be considered by the Mayor of London before the final decision is issued.The site is one of 12 included in the 12 Estates regeneration programme, which will see around 5,200 homes delivered in Havering over the next 12 to 15 years.The £1bn project will seek to double the amount of council rented accommodation and more than double the number of affordable housing.The plans for the Napier and New Plymouth House site include 126 affordable homes, with a number earmarked for families, and a further 71 homes for private sale targeted at local buyers.The plans were said to be subject to extensive public consultation, with more than 600 one-to-one meetings with residents and businesses taking place across the wider regeneration project.As part of the project, Havering Council and Wates Residential have pledged to deliver a borough-wide legacy by investing in education, training and skills opportunities, and by employing local businesses to work on the scheme.
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