The latest East London Regeneration has been announced in Leyton and Hackney Wick.
The Joint venture between Peabody Housing Trust and Homebuilder; Hill, will provide mixed use community sites totaling 900 homes and almost 80,000 sq ft of commercial space.
JV's are becoming more prevalent within London due to the scale, complexities, competition and risks of developing out large areas.
This is Peabody's first major JV development and will no doubt be observed by other Housing Associations looking to successfully regenerate large areas of London in collaboration. We can be fairly sure to Sadiq Khan, Mayor of London, will be watching the planning process carefully; as early this month he granted permission for two other large regeneration schemes
Housebuilder Hill and housing association Peabody have launched a joint venture to kickstart £350m worth of development in east London. The groups will jointly deliver Hill’s Lea Bridge Road development in Leyton and Peabody’s Fish Island Village in Hackney Wick, which will together provide nearly 900 new homes and 78,000 sq ft of commercial space. The deal, which was finalised yesterday, is the largest in Hill’s history, both in terms of the combined value of the schemes and the number of units planned. It is also a landmark deal for Peabody, one of the largest housing associations in the UK. “[This] is Peabody’s first large development through a joint venture arrangement, and we look forward to working with Hill to create much-needed new homes, jobs and business opportunities in east London,” said Peabody chief executive Stephen Howlett.
http://www.propertyweek.com/news/hill-and-peabody-join-forces-in-east-london/5088504.article
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