Notting Hill Housing and developer, Sellar Design & Development have signed an agreement to join forces on a 1.5 million ft² (approx. 139,350 m²) Docklands residential scheme in Southwark. The project will deliver a total of 1,030 new homes, ranging from studios to four bed apartments, as part of a wide-scale regeneration of the Canada Water area. The properties will be available in a mix of private sale, private rent and affordable, and will be created alongside 40,000 ft² of commercial space and a host of new community facilities.
The breakdown will be:
• Private Sale: 453
• Private Rent: 346
• Shared Ownership: 69
• Affordable Rent: 162
Kate Davies, Chief Executive of Notting Hill Housing, comments on the new partnership: "Following a detailed discussion process, we are pleased to confirm that contracts have now been signed and Notting Hill Housing will work with Sellar Design & Development to deliver over 1,000 homes through an exciting new partnership.
"The project at Canada Water will not only introduce properties to buy in Southwark, but it will also provide a much-needed boost to the rental options in the area. It marks a significant move in our ambition to create more quality new homes across central London and, in particular, to expand our 'open market rent' portfolio. This scheme will represent our largest ever development of new rental homes and will increase our exiting offering by almost 50%."
James Sellar, Chief Executive of Sellar Design & Development and son of Shard developer, Irivine, adds: "We are delighted to be working in partnership with the Notting Hill Housing; a leading provider of rented homes in the capital. The scheme will provide a truly striking development in the heart of a previously overlooked part of London as well as creating a new town center for Canada Water.
"Over the past three years we have worked closely with local residents and Southwark Council to meet everyone's aspirations for the site and to provide a focal point for both the existing community and the new residents that will be attracted to Canada Water over the next five years or so."
The seven acre site of the new development sits adjacent to Canada Water underground station and the Dock, between London Bridge and Canary Wharf. Work is set to get underway in autumn 2014 with the construction of the first of the five buildings planned for the site.
In addition to the new homes, the scheme will also deliver approximately 150,000 ft² of retail and commercial space, as well as a community sports facility and a health center. The newly created space will comprise retail outlets, a cinema, bars and restaurants, plus office accommodation and a 100,000 ft² Decathlon store.
Almost half the site is to be devoted to a new public realm, featuring open spaces, landscaped gardens, walkways, and cycle paths along with a new waterside town square.
Source: Notting Hill Housing