A number of things can delay or even completely derail Brownfield developments. It could be issues like a lack of upfront capital or sites needing extensive infrastructure work. However, there can be solutions. A new pioneering partnership will provide them for three sites in London. As a top provider of property management in Newham, we want to have a closer look at this today.
Three key players
The most interesting thing here is the partnership will involve the developer Berkeley, Homes England, and the Greater London Authority (GLA). It will bring together a range of resources, and therefore allow three massive projects to move forward. Two of these are in Newham and will create thousands of new homes. The third is in Southwark, with plans for around 1,400 homes.
Berkeley will be leading the delivery of the three projects. This will include new buildings as well as infrastructure works.
Homes England is the housing and regeneration arm of the Government. Their role in the partnership will be providing a £125m loan. It will ensure there is finance available upfront for infrastructure work at the sites.
Finally, the GLA will be sharing their expertise to give additional support for the developments. They will be in position to offer additional funding too, helping to keep the projects moving.
Development details
As we said above, we are a top provider of property management in Newham. Any project that provides new homes that will appeal to investors is great news for us.
The biggest project of the three is Beckton Riverside in Newham. It is a massive 28 acre site, formerly a gasworks. The first phase involves infrastructure work. There will also be up to 2,800 homes if planning approval is secured. These will be a mix of affordable and private sale.
The second project is also in Newham at Twelvetrees Park. There are plans to regenerate the former coach park in a series of phases. The project will create 4,000 homes, new commercial space, a secondary school, and more. Impressively, 40% of the new housing will be affordable.
Finally we have Bermondsey Place in Southwark. It was formerly a light industrial site, but the redevelopment will create as many as 1,400 new homes. There will also be parks, a public square, footpaths, and commercial space.
All three projects will bring new life to the Brownfield sites. The developments will give them a more sustainable future, creating better places and benefiting the local communities.
Ask us about property management in Newham
Finefair Ltd is a wonderful partner if you invest in assets in London. We’ve been working in the city for decades. As a result, we have seen how the market can change and the massive rewards that can be available. We want to help clients to make the most of their properties. Part of this is managing them effectively. In addition, we can arrange guaranteed rent and much more.
So, if you want to work with the best for property management in Newham, talk to us. We’d be happy to tailor a bespoke service for you. Plus, you can also ask us for advice about investing in different assets in various areas.
