The Mayor has announced the selection of a development partner from the London Development Panel to create a high-quality Private Rented Sector (PRS) scheme as part of a sustainable community in the Canning Town and Custom House, a regeneration area that is currently undergoing major changes led by London Borough of Newham. The redevelopment site is highly visible and will benefit from public transport accessibility, being near to the Canning Town interchange and also the improved local centre. Subject to planning and further consultation, the proposals include more than 1,000 homes, of which approximately a third is Private-Rented Sector (PRS) homes and includes 8,000 sq.m. of non-residential floor space. The appointment of the developer has encouraged institutional investment to accelerate the delivery of new homes for London.
A pioneering Private Rented Sector (PRS) development combined with market sale and affordable housing. The residential-led scheme proposes a total of over 1,000 homes. The long term ownership and management of private rented housing can ensure a high quality outcome with benefits to tenants in terms of design and overall management. Galliford Try will work alongside OPAL LAND LLP, a joint venture between Linden Homes and Fizzy Living, of Thames Valley Housing, who will take long-term ownership of the private-rented and affordable homes.