Mayor gives thumbs up to London’s largest regeneration development

The Mayor of London Boris Johnson has given his seal of approval for the capital’s largest single regeneration development in the Greenwich Peninsula.

A revised masterplan for nearly 12,678 homes and 12,000 jobs on a previously disused gasworks will create an entire new district formed of five neighbourhood zones.

The 80-hectare site, taken on by the Mayor in 2012, previously stalled after a similar masterplan had been granted planning permission in 2004. Developers Knight Dragon are already in the process of building a further 2,822 homes on the site, which will bring housing delivery on the Greenwich Peninsula to 15,720.

Plans also include 220 serviced apartments, 24,000 square metres of retail use, 60,000 square metres of business use, two new schools and two new hotels. The development will also feature a 40,000 square metre film studio, a visitor attraction and increased green open space including an extension to the existing Central Park.

In August, Greenwich council gave outline planning permission for the site, which runs along the River Thames, and the Mayor has now also given the masterplan the go-ahead.

The Greenwich Peninsula site is part of the Mayor’s ambitious plans to release surplus public land to boost construction jobs, drive investment and deliver the additional housing to meet a growing population. Of the developable land taken on by the Mayor in 2012, 99 per cent is now in the development pipeline, while the Greenwich Peninsula is a key element of Boris Johnson’s City in the East masterplan, which looks to deliver at least 200,000 homes in east London over the next 20 years.

The Mayor of London, Boris Johnson, said: “This gigantic site at Greenwich Peninsula has sat dormant for far too long, so I’m pleased that since City Hall took control of this land, we are already beginning to see construction underway. This will not only provide thousands of much-needed new homes for Londoners, but also bring jobs as part of the wider regeneration towards the east of the capital.”

Developers Knight Dragon has 2,882 homes already under construction as part of existing planning permission, of which 1,002 are affordable. The masterplan approved by the Mayor includes 2,928 affordable homes, while a review mechanism has been included in plans, which could deliver an additional 1,572 affordable homes. The affordable housing mix, which will be delivered in all five neighbourhoods in the new district, will be split between social rent and intermediate.

Councillor Danny Thorpe, Royal Borough of Greenwich Cabinet Member for Regeneration and Transport said: “The Council has long held a vision to make the most of the huge potential offered by the Greenwich Peninsula. The approval of this planning application makes it one of the most exciting developments in London, bringing huge long-term regeneration benefits to the Peninsula and cementing it as a new district for London.

“We are particularly proud that, at a time of critical housing shortage, this development will deliver so many affordable homes, of which more than two-thirds will be for social rent, at no more than 50 per cent of market rent.

“This is an ambitious vision for an extremely exciting site and I look forward to it now finally moving forward, and seeing the delivery of this major new regeneration project to the borough.”

Richard Margree, Chief Executive of Knight Dragon, said: “The continued support of the Mayor and his team has given us the confidence and ambition to start the transformation of London’s biggest regeneration site.”