Westminster Industrial Estate, Charlton
In November 2016, U+I were selected by Royal London, the UK’s largest mutual life, pensions and investment company, to form a development partnership for the regeneration of the Westminster Industrial Estate in Charlton.
They were selected, following a competitive process, along with Galliard Homes, London’s largest private residential developer. Together they will work to develop the principal part of the estate into a new £200 million (Gross Development Value) creative style urban quarter for London.
Located directly next to the Thames Barrier, the historic 5.8 acre industrial site will provide around 450 residential and creative workspace units designed around new public areas and landscaped grounds. The proposals will be designed by architects and master planners Studio Egret West.
The 250 acre regeneration area of the Charlton Riverside represents a major opportunity to create a new vibrant neighbourhood on the Thames, providing up to 5,000 new homes.
The locality has been a significant industrial area since the 1870s, and it is hoped that heritage restoration and new buildings will kick-start the wider regeneration of this under-recognised area of London.
U+I and Galliard Homes have combined their respective expertise in partnership, development, sales and construction in a unique joint venture which will optimise the potential of the site; engaging with the local community and council to shape the development, alongside wider plans for the regeneration of Charlton Riverside.
U+I already has a strong presence in the area, with the neighbouring 10 acre Charlton Riverside Industrial Estate acquired, in joint venture with Proprium, in 2015. Their existing portfolio of projects within Greenwich include The Movement, and Morden Wharf on the Greenwich Peninsula.
Richard Upton, Deputy Chief Executive of U+I said:
“We have been working in Greenwich for 25 years and here is another opportunity to deliver something that restores opportunity and celebrates the historic provenance of the area. We see this as a fantastic opportunity to bring a much-needed and truly exciting regeneration to Charlton. This project has all the hallmarks of a seminal piece of regeneration that can provide a part of London for real Londoners. We intend to deliver something quite exceptional.”
Stephen Conway, Chief Executive Office of Galliard Homes commented:
"We are thrilled to be working with U+I and Royal London to transform this important industrial estate into a new urban quarter providing a sustainable mixture of uses, including residential, in order to deliver a high quality environment which will benefit the local economy."
--U and I
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