UK developer Weston Homes is joining forces with Development Securities' Cathedral Group subsidiary to redevelop the historic Telegraph Works site in London's Greenwich district into a new £120 mln (€170 mln) residential complex.
UK developer Weston Homes is joining forces with Development Securities' Cathedral Group subsidiary to redevelop the historic Telegraph Works site in London's Greenwich district into a new £120 mln (€170 mln) residential complex.
The site dates back to the Tudor period when it served as Queen Elizabeth I’s gunpowder store - was mainly used as a factory by submarine cable manufacturers and became known as the Telegraph Construction & Maintenance Company Works.
Transatlantic submarine cables were made at the factory until 1975 when it switched to fibre-optic production. In May 2013 it was sold by owner Alcatel-Lucent with planning achieved in October 2014 for converting the site to residential use.
The new project covers a total of 198,347 sqft (18,400 m2) of residential accommodation across four apartment buildings, a landmark 18-storey tower and three eight-storey buildings.
In total, the scheme will provide 272 new homes.
'Weston Homes and Cathedral Group are transforming this first-class Greenwich peninsula site into a landmark residential address which will deliver desperately needed homes to the local community and Londoners from further afield,' said Bob Weston, chairman and managing director of Weston Homes.