Lendlease picked for £8bn 'Clockwork Orange' estate regeneration
Lendlease won the role of preferred bidder on the £8bn Thamesmead Waterfront development in London, one of the largest regeneration projects in Europe.
The scheme will see the construction of 11,500 homes on the banks of the Thames in south east London, where the film A Clockwork Orange was filmed in 1970.
Lendlease will work with housing charity Peabody, the major landowner in the area, in joint venture to develop a masterplan to deliver the scheme over the next 30 years, subject to contracts being finalised.
The details of the new JV vehicle will be finalised by summer 2019.
The 250-acre site has 2.5km of undeveloped river frontage, green space, open grassed and wooded areas, canals, two major lakes and an existing town centre.
The Peabody and Lendlease plans would see a new waterfront district of 11,500 new homes, focussed around a proposed new DLR station in the heart of the development.
The project will also rejuvenate the existing town centre, creating 1m sq ft of new cultural, community and commercial spaces for Thamesmead and for London.
Peabody chief executive Brendan Sarsfield said: “We are pleased to have selected Lendlease as a development partner for Thamesmead Waterfront. Our shared vision is to create thousands of new homes by the Thames and drive the local economy through new jobs and commercial spaces. With a new DLR river connection complementing the Elizabeth Line on the other side of town, Thamesmead would be more connected to the city than ever before. This would unlock enormous potential and could be a real game-changer for this part of London.”
Dan Labbad, CEO at Lendlease, Europe, said: “As one of London’s largest areas of opportunity to develop new housing and to support business and employment growth, Thamesmead can offer a fresh approach to living in London. Surrounded by water and outstanding wildlife, but within reach of the heart of the capital, we are excited at the opportunity to collaborate with Peabody, the local community and businesses, to bring new high-quality homes and workspaces to this exciting part of south-east London”.