ao link
Twitter
Facebook
Linked In
Twitter
Facebook
Linked In

You are viewing 1 of your 1 free articles

L&Q and Khan agree £500m Barking Riverside deal

L&Q and London mayor Sadiq Khan have struck a £500m Section 106 agreement for the mammoth Barking Riverside regeneration scheme.

Linked InTwitterFacebookeCard
Matthew Carpen, Barking Riverside Ltd; Darren Rodwell, Barking & Dagenham Council; Andy Rowland, L&Q
Matthew Carpen, Barking Riverside Ltd; Darren Rodwell, Barking & Dagenham Council; Andy Rowland, L&Q
Sharelines

L&Q and Khan agree Barking Riverside Section 106 #ukhousing

L&Q and GLA strike £500m investment agreement for Barking Riverside #ukhousing

The 90,000-home landlord and the Greater London Authority will invest the cash in housebuilding and infrastructure through their partnership vehicle, Barking Riverside Limited, over the next 15 years.

Under the Section 106 agreement with Barking & Dagenham Council and Transport for London, the partnership will build 10,800 homes and help fund a new London Overground station running to central London.

The agreement also includes a new 65,000 sq m commercial, retail and leisure space centre; a healthcare facility; and land for seven schools.

Half of the new homes will be classed as affordable, of various tenures.


READ MORE

Barking & Dagenham regeneration vehicle launchedBarking & Dagenham regeneration vehicle launched
Barking & Dagenham regeneration vehicle strikes first dealBarking & Dagenham regeneration vehicle strikes first deal
L&Q named as partner on 11,000-home London siteL&Q named as partner on 11,000-home London site
L&Q’s income falls as sales volumes reduceL&Q’s income falls as sales volumes reduce
Mayor calls in L&Q scheme after rejectionMayor calls in L&Q scheme after rejection

Mr Khan said: “This is an incredibly exciting project for Barking and 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.”

Andy Rowland, east region managing director 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.”

Previously the site of three power stations and a landfill site, Barking Riverside is set to become the size of Windsor once complete.

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.