New 17,000-home masterplan for major south London development gets planning approval

A total of 5,813 homes have been approved as part of the latest planning application, of which 2,383 (41%) will be affordable.

Of these 2,383 affordable homes, 1,230 (52%) will be for London Affordable Rent and 1,153 (43%) will be for shared ownership.

L&Q has already sold shared ownership homes that have already been built by Knight Dragon as part of the Greenwich Peninsula project.

Knight Dragon and L&Q are aiming to start on site on the new neighbourhood of Brickfields, where 60% of the homes will be delivered by L&Q as affordable housing, by April 2021.

Tom Copley, deputy mayor for housing and residential development at the GLA, said: “I’m delighted that we are now able to accelerate the delivery of genuinely affordable homes on Greenwich Peninsula, one of London’s most important regeneration sites.

“Thanks to Greenwich Council approving this new masterplan, up to 60% affordable housing will be delivered in a brand new neighbourhood on land owned by City Hall.

“This has been accomplished despite the major challenges facing London’s housing sector, not least the pandemic.

“The new delivery framework agreed between L&Q, Knight Dragon and the GLA is a prime example of what local government, housing associations and developers can achieve in partnership, and shows how the mayor is working to drive up the delivery of genuinely affordable homes in London.”

Vicky Savage, London managing director at L&Q, said: “We welcome the decision by the Royal Borough of Greenwich to back the Greenwich Peninsula masterplan.

“L&Q has over 10 years’ experience of providing and managing quality affordable homes on the peninsula. Working closely with our partners at Knight Dragon and the GLA, we’re excited to be bringing forward our first ever own built offering here as part of this application.

“Our plans will make a significant contribution towards tackling the housing crisis in the capital. We’re ready to start work on 476 new homes from next year – of which 60% will be affordable, and 40% for market sale. This decision represents a significant step towards making our shared vision for Greenwich Peninsula a reality.”