UK property developer Berkeley Group has obtained a £125 mln (€146 mln) loan from Homes England to support the development of 8,000 homes across three brownfield sites in the UK.
Around 40% of the new homes on two of the sites, which have planning permission, are to be genuinely affordable for local people. The first homes should be ready in 2027 alongside retail and leisure facilities.
The three projects are Twelvetrees Park, Newham, a 26-acre site which is being transformed into a mixed-use neighbourhood including close to 4,000 homes, a secondary school, park, playground and 177,000 ft2 of commercial space; Bermondsey Place, Southwark, with nearly 1,400 homes, and Beckton Riverside, Newham, with up to 2,800 private and affordable homes.
Homes England Chief Executive, Peter Denton, said: 'By pooling expertise and resource through collaborative partnerships we can break down the barriers that are stopping brownfield sites like these from coming back to life with a new, sustainable purpose, ultimately creating better places, more affordable places, where all of a community can live and thrive.'
Rob Perrins, Chief Executive, Berkeley Group, said: 'We are delighted to be working with the GLA, Homes England and the London Boroughs of Newham and Southwark to bring forward much needed private and affordable homes on brownfield land. This is an important step towards accelerating delivery on these complex sites and we’re very proud to be part of this innovative partnership.'
