Peabody has been given the green light by Bexley Council to build the first 1,500 homes in the mammoth regeneration of South Thamesmead, DA18.
It is planning to build up to 20,000 of new homes and the masterplan area is bigger than Old Oak Common and Nine Elms masterplans combined.
John Lewis, executive director Thamesmead for Peabody, said there will be a mix of tenures across the scheme.
“We are interested in taking forward some of the schemes directly, but also in partnership with the market, because we will be doing a range of housing, literally cross tenures, so bringing in various people in the market to deliver those is a good thing,” he said.
Peabody received planning for four sites with the masterplan. It received detailed planning for 525 homes at Southmere Village, 230 of which will be affordable, a new library and nearly 40,000 sq ft of commercial floorspace.
Three outline applications were submitted for Binsey Walk, Coralline Walk and Sedgemere Road, which will deliver around 1,000 homes.
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Peabody bought more than 100 acres of land in Thamesmead in 2014 from Gallions, Trust Thamesmead and Tilfen Land. It then announced proposals for a £1bn regeneration programme for South Thamesmead over the next 10 years.
Lewis said: “What we have been doing since we got involved two years ago is taking forward an ambitious plan to look at what we can do for the whole of Thamesmead but also focus in on some really early delivery.”
This, together with two housing zones which are being led by the London borough of Bexley and the royal borough of Greenwich and delivered by Peabody with funding from the mayor of London’s office, has pushed Thamesmead into the top regeneration projects in the UK.
The whole is being brought forward by Peabody, with the Abbey Wood and South Thamesmead housing zone being led by the London borough of Bexley. The Plumstead and West Thamesmead housing zone is being led by the royal borough of Greenwich. There is also £47.5m in funding from the Greater London Authority.
The lead architects are Proctor and Matthews.
Liz Mason, senior director in the planning team at CBRE, said: “The process has involved a full complement of CBRE teams including planning, residential and environmental, working together with a number of key stakeholders. It is a true demonstration of what can be achieved with a collaborative approach.”
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