Lewisham council and Grainger to form joint venture

News15 Dec 2017Luke Cross

Lewisham Council has selected Grainger as its preferred bidder for a new joint venture that will deliver a 230-property rental housing scheme.

The JV will develop and own 232 new purpose-built private rented homes and provide a new “ethical rental offer” to Lewisham residents including “long-term, family-friendly tenancies”.

The scheme will include 35 per cent affordable homes to be let at the ’London Living Rent’, on a site at Besson Street in New Cross.

The deal includes transferring the freehold of the land into the JV company.

The council’s cabinet agreed in December 2017 that the land could be disposed of at less than best consideration.

Its head of strategic housing, Genevieve Macklin, and head of corporate resources, David Austin, will act as the council’s two LLP representatives on the JV operational board

The partnership will also develop a health centre for the local community, new office space for the New Cross Gate Trust and an outdoor gym.

The pair will now finalise the legal agreement and make a further announcement in spring 2018, when the partnership is expected to be formally launched.