Joint venture agrees to buy site next to the former Olympic Athletes Village for £44m
A joint venture between London housing developers Telford Homes and Notting Hill Housing is plotting a major 400 home development in East London.
The firms announced this morning that they have exchanged contracts to buy a site next to the former Olympic Athletes Village for £44m.
Telford said the anticipated revenue for the joint venture from the development of the site was over £180m.
Jon Di-Stefano, chief executive of Telford Homes, said the site was a “”fantastic opportunity” to develop in Stratford where the group had “experienced tremendous sales success in recent months”.
He added: “Reaching our £1bn development pipeline milestone [in September] was a significant achievement and building on this so swiftly demonstrates the group’s considerable future growth prospects.”