London Square has announced the acquisition of the Leegate Shopping Centre site, close to historic Blackheath village and common in South East London, with plans to deliver a new mixed-use development.
The scheme will comprise new housing set within landscaped communal areas alongside retail, leisure, restaurants, cafes and a medical facility. London Square aim to bring a new focus to Lee town centre in the London borough of Lewisham.
Acquired from Galliard Homes, the site currently has planning in place for 562 homes, comprising 389 private and 173 affordable houses, with 4,538 sq m of ground floor commercial space. It marks London Square’s 14th purchase since being acquired by Aldar at the end of 2023.
The developer will work with the London borough of Lewisham to increase the level of residential options in an area where there is a shortage of new build homes being delivered. Start on-site will be later this year.
London Square already has a strong track record in the area, having delivered an award-winning development in the centre of Greenwich and also providing 100% affordable homes in Lewisham on behalf of affordable registered provider, Square Roots.
Adam Lawrence, London Square’s chief executive officer, said: “This acquisition will herald a new chapter for Lee town centre, with much-needed homes and a new retail and leisure destination to attract the existing community and new residents. We look forward to working with the London borough of Lewisham to get the re-development underway later this year.”
London Square’s acquisition follows the purchase of Ransome’s Wharf in January. Last year, London Square acquired a former convent site in Tite Street, next to the Royal Hospital Chelsea. Other acquisitions included the Grade II* listed Surrey County Hall in Kingston, Westminster Tower, opposite the Houses of Parliament in the heart of the capital, plus sites in zone 1 Vauxhall, Brook Green, Woolwich, Stratford Cross, Willesden and Twickenham.
The 14 sites – with 10 already under construction – will deliver more than two million sq ft of real estate across 10 London boroughs. The development pipeline has doubled to £3.8billion gross development value. Of the sites acquired, 38% of the homes being delivered will be affordable housing, making a significant contribution to alleviating the housing shortage in the capital. London Square will deliver more than 7,000 homes in London over the next five years.
