South Thamesmead Phases 2 and 3 Joint Venture Partnership

Description

Peabody is seeking to establish a 50:50 joint venture (‘JV’) between Peabody and a private sector partner (‘PSP’) to deliver phases 2 and 3 of the South Thamesmead regeneration project, at Harrow Manorway, near Abbey Wood, SE2 9LH (the ‘Development Site’). The Development Site totals circa 3.1 hectares (7.7 acres) split between a northern plot (Phase 2, c 1.7 ha (4.6 ac)) and southern plot (Phase 3, c 1.2 ha (3.1 ac)). Lot 1: 50:50 joint venture (‘JV’) between Peabody and a private sector partner (‘PSP’) to deliver phases 2 and 3 of the South Thamesmead regeneration project. It is anticipated that the PSP will provide construction services to the JV, and may provide additional professional services. In total the Development Site is estimated to have capacity for c 730 homes and c 1,000 square foot of community space (the latter assumed to be delivered in Phase 2). Phase 2 benefits from an outline planning consent for delivery of up to 329 homes and up to 1,050 square metres of commercial floorspace (London Borough of Bexley ref. 16/01287/OUTM). Recent scheme testing estimates capacity for Phase 3 at c 400 homes. Phase 3 is part of a separate outline application currently being determined by the local planning authority, across a wider area, for up to 1,950 homes and 3,225 square metres of commercial floorspace (ref. 21/01948/OUTEA).