Berkeley Homes and the Greater London Authority have joined forces to build 3,500 homes and a new community on the former Parcelforce depot in Newham. With over 1,100 private rental homes, this will become one of the largest new PRS developments in London.
Terms have now been agreed between Berkeley and the Greater London Authority on the 26-acre site at Stephenson Street. Berkeley aims to submit a planning application to Newham Council in autumn 2016, with a view to starting on site in spring 2017 and completing the first homes in early 2019.
The tenure of the 3,500 homes will be divided equally between affordable, private and build to rent. The mix of homes represents a deliberate strategy to create a community where people can live for the long-term. It allows residents to move between tenures and from rental products into home ownership on the same site.
At the heart of the masterplan, designed by Patel Taylor, will be the stunning Four Seasons park. A trellis of beautiful spaces and public realm will define the new neighbourhood, covering 4.5 acres of land. Sixty per cent of the whole development will be open space.
The development will also provide a secondary school for 1,000 pupils. Berkeley and the GLA are working with the Education Funding Agency to ensure the new school is open in September 2019. Meanwhile, direct access will be provided into West Ham station from the newly created piazza, as well as two pedestrian bridges, to connect the site to the surrounding neighbourhoods.
Speaking at the announcement in MIPIM, Tony Pidgley CBE, Chairman of the Berkeley Group, said:
'This is an inspired design with a wonderful park which will create one of the best new communities in London. It's a place that will work for everybody, whatever your age or income. It has something for everyone.'
Richard Blakeway, Deputy Mayor for Housing, Land and Property, commented:
"I am delighted that Berkeley has come forward with such a bold and innovative scheme that will create a brand new East London community on what was previously a huge chunk of disused land. As well as being among the largest new private rental sector developments in the capital, this flagship development continues the transformation of east London as part of our Olympic legacy."
Councillor Ken Clark, Cabinet Member for Building Communities, Public Affairs, Regeneration and Planning at Newham Council, said:
"This proposal sounds like an ambitious and forward thinking development which could go some way to providing much needed housing and school places, as well as more green spaces for our residents to enjoy. I look forward to a high quality planning application, which addresses the needs of our borough, being brought to the council for consideration. "
The Mayor of London, Boris Johnson MP, was granted new powers over a substantial amount of land in 2012, much of which was disused and had lain dormant for decades. All 414 hectares of surplus land, including the Stephenson Street site has now been released and is either being developed, in the planning process or being marketed to deliver 50,000 new homes for 125,000 Londoners.
Notes for Editors
1. The Berkeley Group builds homes and neighbourhoods. It is a publicly-owned FTSE 100 company. In 2015, the Berkeley Group supported 26,000 jobs across the UK and contributed £2.1 billion to Britain's GDP.
2. Over the last 5 years, Berkeley has contributed £1.5bn towards affordable housing and made additional direct payments of £396m to help pay for services and facilities in communities across London and the South of England.
3. Newham Council is leading the way in the regeneration of east London. As one of the host boroughs of the Olympic Games, the council capitalised on regeneration opportunities, transforming Stratford into a centre of sporting excellence, with a new residential community and rejuvenated town centre.
4. The borough has also begun a £3.7billion regeneration programme in Canning Town and Custom House which will see up to 10,000 new and refurbished homes provided across all tenures, and soon the historic Royal Docks will become the home of the latest business and residential district zone in the capital, beside London City Airport, the only airport actually in the heart of London. Newham also has extensive public transport links and will benefit from the introduction of Crossrail in 2018. The council has also been at the forefront of lobbying for additional river crossings in east London to further boost the economic development of the borough and east London.
5. For media enquiries please contact Anna Mitra, Kajal Shah or Lorena Burciu at London Communications Agency on 020 7612 8480 or 07850 293670.For media enquiries at MIPIM, please contact Jane Groom from London Communications Agency on 07815 518591.