Lend Lease to build homes at dockyards site
AUSTRALIAN property and industrials giant Lend Lease is to build 905 new homes in east London after agreeing to buy the former dockyards site in Deptford from City & Provincial Properties.
Lend Lease has been ramping up its exposure to London’s housing market and began work last year on its £1.5bn regeneration of Elephant & Castle, which will create 3,000 homes over the next 10 years.
It is also building a £2bn scheme in Stratford City next to the Olympic Park known as the International Quarter, where it signed a major pre-let deal with the Financial Conduct Authority earlier this year.
Lend Lease said the 11-acre site in Deptford, known as The Wharves, already has planning consent for 905 homes in buildings ranging from four to 18 storeys as well as 158,000 square feet of commercial space.
It forms part of Lewisham council’s wider regeneration plans for the area, which has several neglected sites and has suffered high unemployment since the closure of the Dockyards from the 1970s.
In April, London Mayor Boris Johnson approved Chinese developer Hutchison Whampoa’s plans to build 3,500 new homes at a neighbouring dockyards site known as Convoys Wharf.