You are viewing 1 of your 1 free articles
L&Q buys 642 homes on Berkeley’s £1bn regeneration
London’s largest housing association, L&Q, has agreed to buy 642 homes on house builder Berkeley Homes’ £1bn Kidbrooke Village regeneration scheme.
The association, which manages over 95,000 homes, will provide the homes at a combination of shared ownership and London Affordable Rent, a tenure created by Sadiq Khan which is slightly more expensive than social rent.
L&Q will own the homes on Berkeley’s £1bn Kidbrooke Village scheme, a regeneration of the old Ferrier Estate in south-east London.
L&Q did not reveal how much it had paid for the homes, of which 379 will be shared ownership and 263 will be let for London Affordable Rent.
READ MORE
The association described the development as the next stage in its partnership with Berkeley, with which it also partnered in November to deliver 765 homes in Reading.
Vicky Savage, regional managing director for the South region at L&Q, said: “We are delighted to be working with our partners Berkeley to deliver affordable homes at Kidbrooke Village.
“L&Q and Berkeley have nearly a century of housebuilding experience between them, with a track record of creating successful communities. We are looking forward to playing a part in this flagship regeneration project for London.”
The regeneration is set to build around 5,000 homes on the site, as well as shops, a village square and hotel.
Karl Whiteman, executive director of the East Thames division at Berkeley, said: “Kidbrooke Village represents all that is good about living in London – a vibrant community with tonnes of green space, a local pub, shops, doctors and dentists all on your doorstep.
“It’s a new neighbourhood which offers something for everyone, and we are delighted to partner with L&Q to help more people experience and enjoy the quality of life that living here brings.”
Chris Kirby, cabinet member for housing at the Royal Borough of Greenwich, added: “There is not just one solution to the housing crisis. The council is embarking on its own ambitious building programme – including 750 new council homes and 300 new homes at affordable rent to start on site by 2022 – but partnerships such as this between L&Q and Berkeley are also vitally important.
“To ensure our residents are able to live in the good-quality homes that they deserve, the council is committed to enabling a blend of different house building solutions across the borough.”
