Developer says it wants to concentrate on building the nearby 2012 Olympic Village
Lend Lease has pulled out of the £3.1bn scheme to develop Canning Town and Customs House.
Newham Council have had to return to the Official Journal of the European Union to look for a development partner for Countryside Properties and the Ecentral consortium.
Lend Lease’s former consortium partners First Base and East Thames Housing Association have announced they will be issuing a second bid for the scheme.
Lend Lease was first appointed to deliver the £3.1bn scheme in November 2006. The company’s UK chairman, Nigel Hugill, explained Lend Lease wanted to concentrate commitment in Newham on building 5000 new homes for the Olympic Village. “This is not a reflection of the scheme or the proposals. In terms of directing resources we just feel it is better to concentrate efforts on Stratford.”
The 15-year regeneration project involves the construction of 7000 new homes, a mixed-use town centre, education, health and community facilities, and the refurbishment of 500 existing homes.