Peabody and Lovell Partnerships announce joint venture at South Thamesmead
Peabody and Lovell Partnerships have formed a joint venture to deliver the second phase of Peabody’s seven-phase regeneration masterplan for South Thamesmead, South East London.
The 50:50 partnership will provide 329 mixed-tenure homes in South Thamesmead, 42 per cent of which will be affordable. Construction is set to begin early this year and is expected to complete in 2027.
The plans have been developed by a design team made up of lead architect, Karakusevic Carson Architects; landscape architects, Turkington Martin; structural and civil engineers, Price & Myers; and mechanical & electrical consultants, Waterstone Design.
South Thamesmead’s second phase follows the completion of neighbouring phase one in late 2022.The initial phase includes 534 new homes – of which 55 per cent are affordable, a new public square, library with community facilities, commercial space for shops, services and cafes, and outstanding shared spaces.
The creation of new homes and improved public realm across South Thamesmead is a key part of Peabody’s mission to improve, grow and look after the town for the long term. Peabody will continue to own the site, manage homes for rent and shared ownership, and look after private blocks.
Peabody remains committed to supporting residents who will need to move home as part of the regeneration throughout the partnership. Residents have the option of moving into a brand-new home in South Thamesmead on the same tenure. 181 South Thamesmead households have already moved into phase one homes, while 59 homes in phase two have been earmarked for people already living in the community.
David Llewellyn, Project Director South Thamesmead at Peabody, said: “We’ve set out an ambitious masterplan for South Thamesmead, as part of our wider work to improve neighbourhoods and create new opportunities across the town.
“Local people will continue to be at the heart of the changes across the town, and we hope they will feel a growing sense of pride and belonging in Thamesmead as this work continues.
“Lovell Partnerships are urban regeneration experts with decades of experience, and we look forward to making the most of this as we take forward this next phase of development.”
Mary Parsons, Regeneration & Partnerships Director at Lovell Partnerships said: “Forming this joint venture with Peabody for South Thamesmead is hugely important to Lovell – not only to be part of such an exciting and ambitious regeneration scheme, but to have the opportunity to work with a partner like Peabody who have such an outstanding track record in community led placemaking and regeneration.
“Working in partnership to deliver complex regeneration and genuinely mixed tenure neighbourhoods is in Lovell Partnerships’ DNA and our London team can’t wait to get started.”
The phase 2 site at the former Binsey Walk is a short walk away from the later phases of development (phases 3 to 7) on the nearby Lesnes Estate. In October 2022 Bexley Council’s approved initial plans for up to 1,950 new homes at Lesnes (a minimum of 35 per cent will be affordable), up to 3,225 square metres of commercial floor space and enhanced public open space.
The development of new housing in South Thamesmead is running alongside a range of other Peabody-led improvements in the local area. These include the South Thamesmead Garden Estate programme to transform an under-used green chain walk and other outdoor spaces – part of a £10m investment in improving public realm across the Parkview and South Thamesmead Estates; the completion of a boating club on Southmere Lake; and £2.5m of investment into improvements at Southmere Lake to improve water quality and increase biodiversity.