G15 housing association Peabody and property group Lendlease have formed a 50:50 joint venture for the c.£8bn development at Thamesmead Waterfront in south-east London.
The two organisations will work together on the planning and delivery of the scheme, which will deliver a minimum of 11,500 homes. The project will contribute to the continuing economic regeneration of east London and the Thames Estuary and aims to revitalise the existing Thamesmead town centre along with creating many new homes.
Currently much of the site is undeveloped and underpopulated. It includes 2.5km of river frontage, as well as an abundance of green space and two lakes.
Key to the project is the plan for a new cross-river extension of the Docklands Light Railway to Thamesmead. Improving transport links in the area is said to be critical in unlocking the full ambition of the scheme and to enable the 250-acre development to achieve its full potential.
Peabody CEO Brendan Sarsfield said: “Thamesmead Waterfront represents a historic opportunity to transform an isolated and under-utilised riverside location in London.
“A new DLR crossing from east London would allow this long-term partnership to create a new waterfront district with thousands of new affordable homes and a new leisure, cultural and commercial offer for the town, for London, and for the wider Thames Estuary.
“This would unlock huge benefits for existing and new communities, boosting the economy and providing huge opportunities for London and the UK.”
Neil Martin, chief executive at Lendlease, Europe, added: “Improving transport links is a vital part of the long-term regeneration of the area, as it will bring those new homes within reach of the heart of London and help us deliver one of the most exciting new places to live in the capital.”
This is the single largest development in Peabody’s 150-year history. The Waterfront joint venture is part of Peabody’s long-term regeneration of Thamesmead, a town in south-east London which is the same size as central London. The area measures around 760 hectares, with Peabody owning around 65% of the land.
Affordable housing provider Torus has been picked to develop Liverpool FC’s Melwood training ground site.
The housing group currently has 1,600 homes in the West Derby area, where the ground is situated, and manages around 40,000 social homes across the north west.
In 2017, LFC secured planning consent for a proposed redevelopment of the club’s existing training ground at Melwood, as part of plans to invest in a new training facility for the first team and academy sides at Kirkby.
Throughout the tender process, Torus was identified as the best socially responsible housing developer to take over the Melwood site.
Work on the new training ground at Kirkby started in summer 2018 and is expected to be completed in summer 2020. The first team will start the 2020-21 season from their new home in Kirkby.
Andy Hughes, executive vice president, operations and finance at Liverpool FC, said: “Today marks another significant milestone in this hugely important and ambitious project.
“It is with a heavy heart that we announce the sale of the Melwood site having played such a significant role in the club’s history. But the site is limited in terms of space and is unable to accommodate the club’s ambitions for a new first-class combined training facility.
“It’s over two years since we started this journey and we’d like to thank everyone who has been involved, particularly local residents in West Derby for their feedback and patience during this tender process.
“All funds from the sale of the Melwood site will be reinvested back into the first-team squad and the state-of-the-art training centre at the new Kirkby site.”
Torus will continue to consult with the local community as it develops its plans for the Melwood site.
Chris Bowen, managing director of Torus Developments, said: “With more than 1,600 homes in the area, we’re already a long-standing part of the West Derby community, so being selected to develop this site at the heart of the neighbourhood means a great deal to us.
“Consultation with local residents is very important to us and we look forward to meeting with the community in due course. We will also be working closely with LFC to ensure the legacy of this incredibly historical site is a theme throughout.
“Our plans are still at an early stage but will be driven by providing quality affordable homes that address local needs, including specialist housing provision where older people and those with additional care needs can lead sociable, fulfilling and independent lives.”