Amro Partners announced on Thursday that it has acquired Lewisham Retail Park in South East London to 'deliver its largest and most ambitious residential project to date'.
With an estimated GDV in the region of £400 mln (€466 mln), the development will deliver approximately 1,000 new residential homes, forming one of the final major pieces of the 20-year Lewisham regeneration plan.
Over the last 18 months, Amro has acquired various adjoining land holdings from a number of private landowners, concluding with the acquisition of the Lewisham Retail Park site and remaining land holdings from Legal & General.
It now has the opportunity to undertake a comprehensive redevelopment of the island site and contribute to the regeneration of Lewisham with a scheme that provides high quality housing as well as flexible commercial space.
With plans to significantly improve the existing planning consent for 550 homes, Amro will work closely with the London Borough of Lewisham to secure permission for a development with the highest possible sustainability ratings, including BREEAM Outstanding, Fitwel 3, WiredScore Platinum and ActiveScore Platinum.
The project is scheduled to launch with phased openings during 2028/29.
Amro Partners Chairman and CEO, Raj Kotecha, said: 'This acquisition is the culmination of two years’ hard work piecing together this incredibly complex site. It’s an honour to play a part in the regeneration of this bright and thriving neighbourhood, with a site that has such vast potential. We look forward to working with the council and the people of Lewisham to bring forward a landmark development that sets a new bar for placemaking, sustainability and brings long-term value to the local community.'
CBRE head of London Residential Land, Adam Cradick, who advised Legal & General on the sale, said: 'Amro has the ability to deliver an exceptional development with outstanding placemaking, and much-needed housing. This transaction is another example of the current positive sentiment within the London residential land market, and the demand we are seeing for best-in-class sites.'
Residential living specialist Amro Partners has over 2,500 residential homes currently under development across Greater London, including projects in Ealing, Kingston, Sutton and Croydon.
