Partner could be sought for Aylesbury plans
Southwark Council is looking for a long-term partner to realise its plans for the Aylesbury Estate.
The council will discuss the possibilities for the regeneration of the vast estate at a cabinet meeting next Tuesday (15 May).
The scheme, to be completed over the next 20 years, has been subject to set backs including the government’s decision in 2010 to withdraw private finance initiative funding from 13 schemes nationwide, including £181 million for the estate.
The council has already completed some demolition and built a few of the 4,200 new homes it plans for the area.
Peter John, leader of Southwark Council, said: ‘We have decided to open the forum to discuss the option of procuring a long-term development partner for Aylesbury.
‘We would be seeking a partner of the highest calibre, which could share our vision for a better future for this already close-knit and vibrant community. This is a unique and exceptional project to be part of, and its legacy will be far-reaching.’
If the idea of seeking a long-term partner is approved at the cabinet meeting next week, the council will be asking for bidders to come forward.
The developer would be required to build at least 50 per cent affordable homes, 75 of which would be for social rent, and a minimum of 30 per cent across all tenures will have three bedrooms or more.