Out-Law News | 18 Sep 2014 | 4:43 pm | 1 min. read
The Silvertown Way and Pontoon Docks sites were among 670 hectares of public land inherited by the Greater London Authority following the Localism Act in 2012. Increasing the supply of private rented sector housing in London is a stated aim of the Mayor's Housing Strategy and the two sites were marketed by the GLA with the specific aim of providing homes for long-term private rent. Bidding was fast-tracked through the mayor's London Development Panel and the preferred bidders were announced this week.
Developer Galliford Try, along with Thames Valley Housing and Linden Homes joint-venture OPAL LAND LLP, have been selected to redevelop the 2.1 hectare Silvertown Way site in Canning Town. More than 1,000 new homes are planned for the vacant site, 347 of which will be privately rented for at least ten years under a GLA requirement. Affordable homes provision of 386 units is proposed and 86,000 square feet of employment and non-residential space is also planned.
Greg Fitzgerald, chief executive of Galliford Try, said: "We are delighted to have been selected for this scheme which underlines our strong relationship with the GLA. This scheme is testament to the combined resources of the group and our proven expertise in regeneration and affordable housing projects. It underlines our continued investment in delivering much-needed homes and working in long-term partnerships with our partners in the sector."
A consortium comprised of developer Bouygues Development, the London Pensions Fund Authority and residential landlord Grainger plc has been selected to deliver more than 200 homes at Pontoon Dock in the Royal Docks. Affordable housing provision of 73 homes is proposed for the 0.69 hectare site, with 137 private rented sector homes agreed with the GLA.
The Pontoon Dock scheme also proposes around 11,000 sq ft of non-residential development and the re-provision of existing car parking space.
"With an established relationship with the GLA and having worked on regeneration projects across the capital, we are very pleased to be selected as preferred bidders for this site," said Nicolas Guerin, managing director of Bouygues Development in a statement. "We are amongst the UK's most experienced developers in the private rented sector and we look forward to working alongside our valued partners, London Pension Fund Authority and Grainger plc, to create another exciting new place for the local community in Newham."