UK social landlord to bring over 1,000 new homes to 'Canada'
Published by Max Salsbury for 24dash.com in Housing and also in Development
A deal has been struck that will see a social landlord deliver 1,030 new homes in the London borough of Southwark.
Notting Hill Housing's agreement with developer Stellar Design & Development will create properties ranging from studios to four-bed apartments as part of the regeneration of the Canada Water area.
Alongside 40,000sqft of commercial space, the 1.5 million sqft residential scheme will comprise of:
- 453 homes for private sale
- 346 for private rent
- 69 for shared ownership
- 162 for 'affordable' rent
Notting Hill's chief executive Kate Davies said: “Following a detailed discussion process, we are pleased to confirm that contracts have now been signed and Notting Hill Housing will work with Sellar Design & Development to deliver over 1,000 homes through an exciting new partnership.
“The project at Canada Water will not only introduce properties to buy in Southwark, but it will also provide a much-needed boost to the rental options in the area. It marks a significant move in our ambition to create more quality new homes across central London and, in particular, to expand our ‘open market rent’ portfolio.
"This scheme will represent our largest ever development of new rental homes and will increase our exiting offering by almost 50%.”
Work on the seven-acre site, that sits adjacent to Canada Water underground station, is set to get underway this autumn.
In addition to the new homes, the scheme will also deliver approximately 150,000sqft of retail and commercial space, as well as a community sports facility and a health centre. The newly created space will comprise retail outlets, a cinema, bars and restaurants, plus office accommodation and a 100,000sqft Decathlon store.
James Sellar, chief executive of Sellar Design & Development, said: “We are delighted to be working in partnership with the Notting Hill Housing; a leading provider of rented homes in the capital. The scheme will provide a truly striking development in the heart of a previously overlooked part of London as well as creating a new town centre for Canada Water.
“Over the past three years we have worked closely with local residents and Southwark Council to meet everyone’s aspirations for the site and to provide a focal point for both the existing community and the new residents that will be attracted to Canada Water over the next five years or so.”
Notting Hill is one of London’s largest housing associations and manages more than 28,000 homes across the capital.