Berkeley and Peabody have marked the completion of their first 733 private and affordable homes at Lombard Square in West Thamesmead.
The homes built so far are part of a new green neighbourhood close to Plumstead Station. Alongside the homes, the public-private partnership has delivered a 1.8-acre park, children’s playground and a convenience store.
Lombard Square sits within the Thamesmead and Abbey Wood Opportunity Area, which is designated for 8,000 new homes and 4,000 new jobs by 2041.
An event was held to celebrate the milestone, hosted by executive chair of Berkeley Group, Rob Perrins, and Peabody’s deputy executive director of development, Angela Wood, which brought together key partners on the scheme, as well as deputy mayor of London for housing and residential development, Tom Copley, leader of the Royal Borough of Greenwich, Cllr Anthony Okereke, and director of infrastructure funding at Homes England, Pauline Schaffer.
Lombard Square has delivered 733 homes to date, including 208 shared ownership homes and 173 affordable rent homes. The Royal Borough of Greenwich is allocating affordable homes for rent to support local people in housing need, including those currently living in temporary accommodation.
A further 296 affordable rent homes are scheduled for completion later this summer.
The entire masterplan for Lombard Square, which sits on 17 acres of former Peabody industrial estate land, will provide nearly 2,000 homes, including 765 (40%) affordable homes, once complete. It will also provide 47,000 sq ft of light industrial, commercial and employment space, which is expected to create more than 180 permanent jobs.
The scheme includes around three acres of public open space, featuring a playspace, amenity parkland, seasonal wildflowers, a sustainable urban drainage pond and other biodiverse habitats for wildlife and people to enjoy. Together this will deliver a 45% biodiversity net gain.
The low-carbon development will also feature an innovative open-loop ground source heat pump. Lombard Square is one of the largest developments in the UK to use the technology, as well as solar panels, and electric vehicle charging.
This strategic regeneration site was unlocked in 2022 through an innovative joint funding agreement which saw Homes England and the GLA commit grant funding, enabling Berkeley to invest additional private capital to regenerate the site and drive delivery.
Rob Perrins, executive chairman of Berkeley Group, said: “This partnership proves we can build the new homes and neighbourhoods London needs when we all work together to drive delivery. The GLA, Homes England, Greenwich Council and Peabody all deserve great credit for tackling the viability challenge at Lombard Square and unlocking the potential of this complex regeneration site.”
“Very few projects in London have delivered this many private and affordable homes over the last year, and this beautiful new park shows what ambitious placemaking and regeneration are all about. Projects like Lombard Square are not easy, but once up and running they are a real force for good – driving the growth, jobs and homes London desperately need. The challenge now is to unlock delivery on many more sites and opportunity areas across the capital.”
Angela Wood, deputy executive director of development at Peabody, said: “Lombard Square is a prime example of a welcoming, sustainable and well-connected neighbourhood. It’s hugely exciting to see it taking shape, with hundreds of homes already completed and a beautiful new park for local people to enjoy. We’re really pleased to welcome residents into their new homes, and wish them well as they settle in. And as the long-term freeholder of the site, it has been a pleasure to work with a partner who values great placemaking and creating sustainable developments , matching Peabody’s own ambition.”
“Providing much-needed housing is an essential part of our plan to improve, grow and look after Thamesmead for the long term. We’re continuing to make strong progress with Berkeley Homes to deliver almost 2,000 homes here in the coming years.”
Deputy mayor for housing and residential development, Tom Copley, said: “I’m delighted to mark the completion of 733 much-needed homes at Lombard Square, alongside this fantastic new park for the whole community to enjoy.”
“This development represents placemaking and partnership working at its best, with Berkeley, Peabody, Greenwich, the GLA and Homes England all working together to unlock a complex brownfield site and create a sustainable new neighbourhood. Lombard Square is delivering 40 per cent affordable housing and making a key contribution to Thamesmead and Abbey Wood Opportunity Area. Working together we are delivering the homes that Londoners desperately need, creating a more sustainable and prosperous city for everyone.”
