Hill and Peabody ink joint venture for east London developments
Hill and Peabody have agreed a joint venture to develop two sites in east London, which together will deliver close to 900 homes.
The deal represents the first joint venture between the housebuilder and housing association.
Peabody has committed the Fish Island Village site (pictured) into the joint venture, alongside Hill’s Lea Bridge Road development. Combined, the two sites have a development value of over £350m.
The brownfield site at Fish Island was previously warehouses and industrial buildings, overlooking the Hertford Union Canal. When complete, Fish Island Village will comprise 434 private apartments, 146 affordable homes and 57,000 sq ft of commercial space, of which 48,000 square feet will be operated by social enterprise, The Trampery.
Fish Island Village has been designed by Haworth Tompkins, Pitman Tozer and Lyndon Goode Architects.
Each of the one, two, three and four bedroom apartments and maisonettes will be located around a series of piazzas and courtyards, while Hill and Peabody’s partnership with The Trampery will see studios, workshops and a gallery included.
The Lea Bridge Road site, designed by Pollard Thomas Edwards Architects, will see 300 new homes built, including at least 62 affordable properties. The scheme comprises nine residential blocks up to 18 storeys in height, set around a central courtyard, with 21,000 sq ft of ground floor commercial space and a gym.
The first homes at Fish Island are expected to complete early next year, and at Lea Bridge Road in early 2019.