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House builder backs out of 1,000-home regeneration scheme
Redrow has backed out of a 1,000-home regeneration project in Wandsworth, south-west London, as part of a move to scale back operations in London.
The house builder announced today that it has agreed with Wandsworth Council a “managed exit” from the project, which would have seen it knock down 280 homes on the 1950s Alton Estate and replace them with 1,103 new build homes.
Ravi Govindia, leader of Wandsworth Council, said it is “disappointing” that Redrow feels it is unable to continue with the scheme, adding that the council has “taken the difficult but pragmatic decision that it is better to look at alternative options rather than try and proceed with an unwilling partner”.
It follows Redrow’s announcement in June that it plans to scale back operations in London in favour of suburban areas.
Paul Muldowney, managing director for the Greater London region at Redrow, said developing in London is a “challenge compounded by increasing costs and a two-tier planning system”.
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The decision to back out of the project comes less than a year after Redrow submitted a revised planning application for the project following criticism of the original proposals by London mayor Sadiq Khan.
Redrow initially planned to make only 53% of the additional new homes affordable. A Greater London Authority (GLA) report said it was “unacceptable” that the affordable housing proposed was “segregated in single-tenure blocks on the periphery of the site”.
Mr Muldowney said: “Taking the regeneration project to this stage has been the result of hard work and close collaboration with Wandsworth Council, [and] we will continue to work closely together to ensure a smooth transition.”
Redrow has confirmed that it will complete the homes on Bessborough Road, which are currently on site.
Mr Govindia said: “Despite these unprecedented times, the council remains completely committed to delivering the transformational regeneration the residents of the Alton Estate expect and deserve.
“We will be exploring options as to how to deliver the scheme without Redrow and to maintain momentum subject to planning permission being granted. I know residents on the Alton are looking forward to better opportunities in the area and we are determined to work harder than ever to meet these expectations.
“Our commitment to improving the lives of our residents remains unchanged and I hope critics of the scheme can now get behind our efforts to transform the estate and do what is best for residents.”
