A new partnership that is expected to create 14,000 new homes across London and the South East has been welcomed by the Mayor of London’s Office.
National Grid and Berkeley Group have established a joint venture to develop major residential and mixed-use development schemes.
Known as St William Homes LLP, the initiative brings together access to a significant portfolio of brownfield land owned by National Grid Property in key areas of housing need with Berkeley’s ability to design, build and market new developments.
Sir Edward Lister, deputy Mayor for Planning said: “London’s population is set to rise by thirty seven per cent to more than 11 million people by 2050 and innovative approaches to housebuilding such as this well help to unlock vast swathes of land and deliver thousands of much-needed new homes. National Grid has numerous sites across the capital that are ripe for regeneration and this partnership will stimulate development and create new jobs. Schemes such as this go hand-in-hand with the Mayor’s work to accelerate the building of thousands more homes for Londoners with a range of pioneering new policies, including the creation of new housing zones and a housing bank.”
In its first phase, St William aims to develop more than 7,000 new homes, including over 2,000 affordable homes.
Development at this scale would also deliver 5,500 jobs, 2 new schools and 22 acres of public open space, transforming 84 acres of former industrial land and contributing over £150m to local infrastructure and amenities.
Notes to editors
• The Mayor’s housing strategy aims to double the number of homes being built each year.
• The Mayor is on track to build a record 100,000 low cost homes for Londoners over his two terms, with more than 77,000 already completed. He is also funding a major future pipeline of additional homes beyond 2016. This year alone, more affordable homes are being built than in any other year since the early 1980s.
• Since taking on almost 700 hectares of surplus public land in 2012, the Mayor has already moved 87 per cent of it into development.