Berkeley Group obtained a €146m loan from Homes England to support the development of 8,000 homes across three challenging brownfield sites. These projects, located in Newham and Southwark, London, have been identified as “highly complex” by Homes England, necessitating a substantial initial investment to proceed.
The project aims to provide 1,400 homes in 11 buildings. It had previously been delayed due to Brexit and the COVID-19 pandemic. Two of the three sites already have planning permission, and 40% of the homes will be offered at affordable rates. Another development, Twelvetrees Park in West Ham, will provide 3,847 new homes and 16,444m2 of commercial space. The final site, Beckton Riverside in Newham, is still awaiting planning approval.
This financial backing from Homes England and the GLA represents a critical step in addressing London’s housing needs through the development of brownfield sites, promising thousands of new homes and significant commercial space in the coming years.
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