Major regeneration investment for homes in Newham and Southwark

Communities in the London boroughs of Newham and Southwark are to benefit from the acceleration of thousands of new homes, across three major brownfield regeneration projects, through a pioneering partnership.

Reflecting the strong need in London for affordable homes, 40% of the new homes on two of the sites, which have planning permission, are to be genuinely affordable for local people. The first homes should be ready in 2027 alongside retail and leisure facilities.

Significant new infrastructure will be built including utilities, green landscaping, on-site highways, bridges and other transport links, helping to support the Greater London Authority (GLA)’s Good Growth agenda and the government’s commitment to support local communities and public services through well-designed homes in thriving places.

All three highly complex projects, which require significant upfront capital investment and have faced economic challenges, are being catalysed by the three organisations coming together to accelerate progress and commit long-term funding and expertise to deliver fantastic social and economic outcomes for Londoners.

Homes England, the Government’s housing and regeneration agency, will provide Berkeley with access to a £125m loan to undertake infrastructure works across the sites, with further funding support from the GLA to drive forward delivery.

The three projects are:

• Twelvetrees Park, Newham. The 26-acre site is being transformed into a mixed-use neighbourhood including close to 4,000 homes, of which 40% will be affordable, a secondary school, park, playground and 177,000 square feet of commercial space. The funding will support the second of four phases to regenerate the former depot and coach park.
• Bermondsey Place, Southwark. Nearly 1,400 homes, 40% of which will be affordable, created across a 5.4-acre former light industrial site, alongside a network of public parks, playgrounds, commercial spaces, footpaths and a one-acre civic square. Funding will bring together several parcels of owned land to ignite progress.
• Beckton Riverside, Newham. Up to 2,800 private and affordable homes, subject to planning consents, will be created under the first phase of delivery across a larger site of 28 acres. Following planning consent, the funding will expedite vital infrastructure works on the former gasworks.

Homes England Chief Executive, Peter Denton, said: “Partnerships between organisations, alongside an unwavering will to drive positive change for communities, are essential if we are to create well-designed homes in well-designed, regenerated places for people to live, work and grow.

“By pooling expertise and resource through collaborative partnerships we can break down the barriers that are stopping brownfield sites like these from coming back to life with a new, sustainable purpose, ultimately creating better places, more affordable places, where all of a community can live and thrive.”

If you would like to read more stories like this, then please click here