Places for London, Transport for London’s (TfL) commercial property company, is seeking a new joint venture development partner to work with in east London.
The partnership will deliver up to 1,500 new homes at the Limmo Peninsula site in Newham, previously used as a construction work site for the Elizabeth line, with the potential for other sites to be added in the future.
The five-hectare site, within the Royal Docks and Beckton Riverside Opportunity Area, could also include commercial space, large public open areas, and a new cycle and pedestrian bridge and river walkway.
The scheme is looking to be effectively car-free, but with some blue badge parking spaces.
The tender is part of Places for London’s wider plans to bring forward 20,000 new homes within the capital, including affordable housing.
The proportions of the equity joint venture will be confirmed in due course but will see Places for London take a smaller share with the selected partner becoming the majority stakeholder.
“We are excited to be searching for a joint venture partner to help us deliver a residential-led scheme at Limmo Peninsula in the heart of east London,” said Ben Tate, head of property development at Places for London.
“With the ability to build up to 1,500 new homes, including affordable housing, alongside a range of other improvements, this is a unique opportunity for a partner to help us transform this site into a sustainable development that will benefit the local community.
“This partnership will form part of our wider programme, which seeks to build the homes and commercial spaces the city needs, while also generating vital revenue that can then be reinvested into the transport network.”
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