Trust Thamesmead and Tilfen Land to join the Peabody Group
South-east London organisations join us on 1 April 2014
This means that housing, community investment and over 100 acres of developable land in Thamesmead is owned by a single, well-resourced organisation for the first time in a generation.
Regenerating Thamesmead: In January Gallions Housing Association (7,000 homes) joined us
We, along with others including Crossrail Investment, will invest hundreds of millions of pounds in Thamesmead over the next 10 to 15 years, improving existing homes and public spaces, and working with partners to create thousands of new homes, jobs, and commercial opportunities.
Stephen Howlett, Peabody Chief Executive, said:
“Thamesmead has the potential to be London’s major garden suburb, with beautiful green space, first-class amenities, excellent schools, and rapidly improving transport connections. Bringing Tilfen and Trust Thamesmead into Peabody will help us realise our vision of creating thousands of new homes and jobs, which will drive the comprehensive regeneration of the area.”
Nigel Houston, Chief Executive of Tilfen Land, said:
“We are delighted to be joining the Peabody Group, which has substantial financial resources and is committed to long-term investment in the area. Tilfen will bring our commercial expertise to the table, and we look forward to continuing our work as one of the major property development and regeneration businesses in the south east.”
Mick Hayes, CEO Trust Thamesmead said:
“This is an exciting time for Thamesmead and we are looking forward to joining the Peabody Group. Our values of trust and collaboration in community investment complement Peabody’s expertise, and together we will be able to achieve even more for local residents, businesses and social enterprises.”
Five critical factors mean that now is the right time to regenerate Thamesmead
- As of 1 April 2014, the Peabody Group has incorporated Gallions, Trust Thamesmead and Tilfen Land, thereby owning most of the land in Thamesmead. This will bring together housing, community and commerce into a well-resourced organisation.
- Peabody has already committed £225m of additional funds for regeneration – predominantly in south Thamesmead. Together with other funding this has pushed this neighbourhood into the top 50 regeneration projects in the UK.
- London is undergoing significant growth. There is now an urgent need for major projects to deliver more homes and jobs in an affordable way. Thamesmead is able to make a major contribution towards solving this problem.
- Crossrail will serve Abbey Wood from December 2018, roughly halving journey times across the Capital and linking Thamesmead to a Development Axis of major change, including : the expansion of Canary Wharf, development of derelict land at Royal Docks and the building of thousands of new homes at Woolwich. This will provide jobs and economic opportunities within a few minutes for the residents and businesses of Thamesmead.
- Peabody has good relations with the GLA, the boroughs and its partners. All the local authorities and agencies are aligned on the need to work together to deliver neighbourhood renewal.
Notes to editors
Founded in 1862 by George Peabody, an American banker, entrepreneur and philanthropist, the Peabody Donation Fund – as it was then known – was set up to “ameliorate the condition of the poor and needy’ in this great metropolis.
Today the Peabody Group owns or manages around 27,000 homes for more than 70,000 people. We only operate in London and manage a range of tenures, including social housing, leasehold, shared ownership, supported housing, key-worker accommodation and commercial units.
Our mission is as alive now as it was in 1862. We aim to make London a city of opportunity for all by ensuring as many people as possible have:
- A good home...
a place that is safe, warm, clean, light, well-maintained and evokes personal pride
- A real sense of purpose...
this means regular endeavour – whether that be work, learning, caring for others, personal development or volunteering – that people look forward to because it makes them feel valued
- A strong feeling of belonging...
that grows from active involvement in the neighbourhood and the spirit of togetherness and friendliness that goes with that.
To support this mission, we provide a range of community programmes for our residents and other Londoners, including employment and training programmes; health and well-being initiatives; activities for younger and older people; welfare benefits advice and financial inclusion and family support programmes.
We have a development pipeline of around 4,000 homes across London, extending our mission to as many Londoners as possible.
Tilfen Land is a South-East London based property investment and development company undertaking asset management and the regeneration of land and property in the south east of England. With a net asset value of over £80m, £8.9 million of investment income last year, and 103 acres of development landin Thamesmead, Tilfen is a robust and well-balanced business.
About Trust Thamesmead
Trust Thamesmead is a community development agency working exclusively for Thamesmead, using its income to deliver direct services and to work with others to improve the quality of the lives of the 40,000 residents of Thamesmead.
Their charitable objectives are focused on advancing education, improving health, getting more people back into work, strengthening the skills of local residents and putting in place much better social networks and community infrastructure.
With state-of-art community and sporting facilities, Trust Thamesmead is well placed to support community regeneration in the area.
Contact the Peabody Media and Public Affairs team.