Homes England, the Government’s housing and regeneration agency, will provide Berkeley with access to a £125m loan to undertake infrastructure works across three of its sites, with further funding support from the GLA to drive forward delivery.

The three projects are Twelvetrees Park in Newham, Bermondsey Place, Southwark and Beckton Riverside in Newham.

All three are highly complex projects that have faced economic challenges and require significant upfront capital investment.

Bermondsey Place will provide nearly 1,400 homes, 40 per cent of which will be affordable, created across a 5.4-acre former light industrial site, alongside a network of public parks, playgrounds, commercial spaces, footpaths and a one-acre civic square. Funding will bring together several parcels of owned land to ignite progress.

Peter Denton, Homes England Chief Executive, commented: "Partnerships between organisations, alongside an unwavering will to drive positive change for communities, are essential if we are to create well-designed homes in well-designed, regenerated places for people to live, work and grow.

By pooling expertise and resource through collaborative partnerships we can break down the barriers that are stopping brownfield sites like these from coming back to life with a new, sustainable purpose, ultimately creating better places, more affordable places, where all of a community can live and thrive."

Tom Copley, The Deputy Mayor of London for Housing and Residential Development, added: "I’m delighted that 8000 new homes are being delivered in Newham and Southwark, with 40 per cent of these set to be genuinely affordable on the two sites with planning permission.

This partnership between the GLA, Berkeley and Homes England marks another important step forward in our mission to utilise Brownfield land to deliver more high-quality, affordable new homes in the capital. The new public green spaces and fantastic transport links will have huge benefits for future residents and the wider community – helping to build a better, fairer, more prosperous London for all."

Rob Perrins, Chief Executive, Berkeley Group, said: "We are delighted to be working with the GLA, Homes England and the London Boroughs of Newham and Southwark to bring forward much-needed private and affordable homes on brownfield land. This is an important step towards accelerating delivery on these complex sites and we’re very proud to be part of this innovative partnership."

Back to Bermondsey Place development profile.