Peabody deals will deliver 2000 new homes
Peabody, with partners Berkeley Homes and Redrow, will deliver thousands of new homes in East London
Peabody will be building 1,500 homes on a seven-hectare disused site in West Thamesmead, until 1913 the home of Arsenal Football Club. This scheme, dubbed the 'West Thamesmead Gateway', is the first in a series of major developments which will be part of our wider multi-billion-pound regeneration of Thamesmead. The scheme will deliver a mixture of homes, including a minimum of 35 per cent affordable, as well as commercial spaces.
The homes will be built by Berkeley Homes and will be a short walk from Peabody’s £4bn, 11,500-home Thamesmead Waterfront scheme which will incorporate 1bn sq ft of commercial and leisure space. There will be a strong focus on sustainability and enhancing the provision of high-quality green space in the area. he affordable homes will be delivered with the benefit of funding from the GLA through the Thamesmead Housing Zone Agreement.
Tony Pidgley CBE, Chairman of the Berkeley Group said: "We share Peabody’s vision for Thamesmead and have the expertise to help unlock this complex site and realise its potential."
Royal Docks and Brent
Just across the river in Newham, Peabody and housebuilder Redrow, will deliver 295 new mixed-tenure homes in Royal Docks, east London. These homes, part of a £125m scheme, includes a mix of studio, one, two and three-bedroom apartments, and meet the 35 per cent affordable homes target.
Keith Parrett, Regional Chief Executive at Redrow London, commented: "The partnership with Peabody further highlights our commitment to delivering new homes for Londoners and has been an ambition of ours for a number of years. We are excited to start on site and be a part of the area’s transformation."
The Royal Docks, which first opened in 1855, is undergoing a significant transformation, attracting tech start-ups, global companies, retail, restaurants and the creation of thousands of jobs. The area already encompasses London City Airport and the ExCel Centre, making it a hugely desirable area to live.
Peabody has also taken on a former Brent council site close to Wembley Stadium which will be 100% affordable and provide 198 new homes. Welcoming Peabody’s involvement Cllr Harbi Farah, Brent Council’s Cabinet Member for Housing said: "Instead of 26 per cent of the new homes being affordable as had been planned for the Wembley Hill Road site by a previous developer, under this new scheme from Peabody all 198 properties will be affordable new homes. This is very welcome news for the borough and a boost for those who are struggling to afford market prices in London’s overheated property market."
Peabody chief executive Brendan Sarsfield said: "Peabody will do more joint venture and development partnerships going forward as we look to ramp up our development pipeline beyond 2,500 new homes a year. We are delighted to be working with Berkeley, who share our vision for Thamesmead, and Redrow at Royal Docks, as we look to deliver more desperately needed high quality, sustainable and affordable homes in the years to come."
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