L&Q and Berkeley have partnered to deliver affordable homes at Kidbrooke Village, one of London’s most significant new housing-led developments.
The deal sees L&Q boost its affordable housing pipeline and continue to deliver high-quality homes at pace by acquiring 642 properties from Berkeley at its South East London site.
Kidbrooke Village is a £1bn regeneration project which is transforming the area into a new neighbourhood south of the river. The finished scheme will consist of around 5,000 homes of mixed-tenure and type alongside shops, community and leisure facilities. The homes will be a combination of Shared Ownership and London Affordable Rent; helping to bring much needed new homes to the capital.
The development sits in 136 acres of parkland and open space, including the newly designed Cator Park and Sutcliffe Park, which comprise areas of grassland, meadow and wetland rich in plant and wildlife. Berkeley has brought on board the London Wildlife Trust, experts in biodiversity, to help deliver its vision for the parks and make a space for nature to flourish.
In November 2018, the two housebuilders announced the beginning of their partnership, with joint plans for the New Riverside Development in Reading. This new destination will deliver 765 new homes in the heart of the city, alongside a central riverside square, local store and landscaped open spaces.
Vicky Savage, Regional Managing Director (South Region) at L&Q said: “We are delighted to be working with our partners Berkeley to deliver affordable homes at Kidbrooke Village.
“L&Q and Berkeley have nearly a century of housebuilding experience between them, with a track record of creating successful communities. We are looking forward to playing a part in this flagship regeneration project for London.”
Karl Whiteman, Divisional Managing Director at Berkeley Homes added: “Kidbrooke Village represents all that is good about living in London — a vibrant community with tonnes of green space, a local pub, shops, doctors and dentists all on your doorstep. It’s a new neighbourhood which offers something for everyone, and we are delighted to partner with L&Q to help more people experience and enjoy the quality of life that living here brings.”
Councillor Chris Kirby, Cabinet Member for Housing at the Royal Borough of Greenwich said: “There is not just one solution to the housing crisis. The Council is embarking on its own ambitious building programme — including 750 new council homes and 300 new homes at affordable rent to start on site by 2022 — but partnerships such as this between L&Q and Berkeley are also vitally important.
“To ensure our residents are able to live in the good quality homes that they deserve the Council is committed to enabling a blend of different house building solutions across the borough.”
