Barking Riverside, one of the UK’s largest regeneration projects, is to receive an injection of £500 million for transport links, parkland and other community facilities, alongside almost 11,000 homes.
The landmark investment has been agreed by the Mayor of London Sadiq Khan and L&Q, one of the UK’s leading housing associations and developers, who formed a partnership – Barking Riverside Limited – to deliver the masterplan for the scheme.
The Section 106 agreement, reached with the Barking and Dagenham Council and Transport for London, means the project has secured funding for:
- A new TfL Overground station connecting to central London in 22 minutes
- Land for seven schools including five primaries, one secondary, and one for special educational needs
- A new centre with 65,000 square metres of commercial, retail and leisure space, including a 2km riverside walkway, an ecology centre and new country park space
- A combined health care and leisure facility
- A cycling hub
- Two local retail and dining hubs
- Employment, skills and training that will ensure locals benefit from the opportunities created by the scheme.
Barking Riverside will also be London’s first and only NHS Healthy New Town, which will embed health into design and living. Half of the new homes will be affordable.
The Mayor of London Sadiq Khan, said: “This is an incredibly exciting project for Barking & Dagenham, but also for the whole of London. As we tackle the biggest housing crisis of a generation, major developments like Barking Riverside will deliver thousands of the genuinely affordable new homes Londoners desperately need. As well as housing, our investment will create the new transport, education and health services needed to turn this into a thriving new community.
“London will be home to 10 million people in the next decade — I’m working to plan for that growth and to provide genuinely affordable homes for Londoners. That will mean increasing density, building on small sites, and using my powers to deliver more affordable homes.”
Andy Rowland, Managing Director – East Region, at L&Q said: “This agreement marks a vital step for Barking Riverside, ensuring we are able to deliver the necessary infrastructure to build a well-connected and thriving community which will benefit existing and future residents for years to come.”
Matthew Carpen, Project Director for Barking Riverside Limited, said: “This is another significant landmark for Barking Riverside, and signals ‘lift-off’ for all future activity on site. It commits us to over £0.5billion of infrastructure investment over a 15-year build programme. This agreement demonstrates the dedication to our partnership with the local authority and TFL, to deliver the goals of the project – a new piece of City with improved connectivity and a multitude of opportunity for both existing and future residents.”
Lucinda Turner, Director of Spatial Planning at Transport for London, said: “Barking Riverside will be a vibrant new area of east London and our improved transport connections will be vital for those who live, work and visit there. It’s important that we promote good growth – and this funding will help support more sustainable travel with the delivery of our planned London Overground connection, and improved bus, walking and cycling routes for people of all ages through the area.”
Jasmine Whitbread, Chief Executive of London First, said: “It’s hugely encouraging to see new homes, better transport links and more schools, skills and public spaces being built in London. Tackling the housing crisis is a massive task but ambitious projects like Barking Riverside show what can be done. The challenge for Sadiq, boroughs and developers is to build that ambition across our capital.”
Cllr Darren Rodwell, Leader of Barking and Dagenham Council, said: “This is a hugely significant step not only for Barking Riverside but the whole borough. It’s part of our drive to make this part of the Thames a magnet for aspirational Londoners who want the wonders of waterside living without having to pay sky high rates. Why live further upstream in Chelsea or St Katherine’s Dock when you can move to Barcelona on Thames!”
Pat Hayes, Managing Director of Be First, Barking and Dagenham Council’s regeneration body, said: “These improvements will bring in tens of thousands of homes and jobs to the borough and improve the quality of lives for residents. It’s further evidence that Barking and Dagenham is London’s growth borough.”
Notes to editors
Images from the agreement are available here. Pictured left to right: Matthew Carpen, Project Director – Barking Riverside Limited; Councillor Darren Rodwell, Leader of Barking and Dagenham Council; Andy Rowland, Managing Director – East Region, L&Q.
About Barking Riverside
Barking Riverside London is one of the largest regeneration projects in the UK. Delivered by Barking Riverside Limited, a partnership between L&Q and the Mayor of London, it will create a new town the size of Windsor on the banks of the River Thames in east London. Until the 1990s, the area was home to three power stations and a large landfill site.
Barking Riverside will offer 10,800 new homes, half of which will be affordable. The new riverside neighbourhood has been envisioned in a masterplan by the multi-award winning architects Lifschutz Davidson Sandilands and planning consultancy, Barton Willmore. The development will include 65,000 square metres of commercial, retail and community facilities, as well as up to seven schools, public squares and open spaces, and transport infrastructure including a new London Overground Station connecting the development to the City in 22 minutes.
The new Transport for London Overground station is due to open in 2021, with the wider scheme scheduled for completion by 2034.
About L&Q
L&Q is one of the UK’s leading housing associations and developers. The L&Q Group manages more than 90,000 homes across London and the South East.
L&Q has an ambitious plan to enable the delivery of another 100,000 quality new homes over ten years. Half of the new homes will be genuinely affordable to people on average and lower incomes, with the other half available for private rent or sale, reflecting L&Q’s belief that everyone should have a quality home they can afford. All of L&Q’s profits are reinvested into creating homes and neighbourhoods we can be proud of.
As a charitable housing association L&Q’s role goes beyond providing homes and housing services. L&Q is a long-term partner in the neighbourhoods where we work. L&Q hope to build aspiration, opportunity and confidence among residents through a £250m community foundation and our skills academy. L&Q’s care and support subsidiary, L&Q Living, provides housing assistance for older people and those with support needs.
About Be First
Be First is a pioneering urban regeneration company wholly owned by Barking Dagenham Council, but operating independently of the authority. Our mission is to accelerate growth and capitalise on the borough’s position as London’s hottest investment and development opportunity. The company will help deliver 50,000 new homes and 20,000 jobs in the next 20 years.