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Giant housing association purchases 250-home London site with regeneration specialist
Clarion has purchased a south London site which has the potential for 250 homes with regeneration specialist Hadley Property Group, marking the second joint acquisition for the partnership.
Currently a Homebase, the site opposite Streatham Common Station is set to be redeveloped into a mix of private sale and affordable homes alongside commercial space and car parking.
The Streatham site is the second purchased in partnership by Clarion and Hadley, which entered into a formal arrangement in July.
Together the partnership has already announced plans to deliver approximately 500 homes on another former Homebase site in Redbridge, east London.
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The pair expect to submit a detailed planning application for the Streatham site during the first half of 2021 and will now carry out a consultation with the local community.
Richard Cook, group director of development at Clarion, said: “I’m delighted that we can announce the purchase of our second project in our joint venture with Hadley.
“The partnership is focused on the acquisition of unconditional land opportunities across London and the South East where we can develop sustainable and thriving mixed-use communities.
“This second acquisition in six months during this time of uncertainty demonstrates the strength of both organisations, and we look forward to taking further projects forward together.”
Clarion is the UK’s largest housing association, managing around 125,000 homes.
Hadley is a private developer based in London that has delivered more than 2,500 homes since 2002 and currently has a pipeline of 2,300 homes.
Steve Kennard, director of regeneration at Hadley, said: “Securing this strategically located site is a great addition to the partnership’s portfolio.
“Streatham has seen relatively few new build schemes brought forward in recent years which presents a real opportunity for us to catalyse the regeneration of under-utilised sites in this part of London.
“We will be delivering an important injection of new homes and amenities into the local area, and we look forward to working closely with the local authority and the existing community to explore what is needed at ground floor and within the development to deliver a scheme that makes a real, positive difference to the local area.”
