Muse Developments and Get Living PLC have agreed a £252m funding deal to accelerate the delivery of the second and final phase of Lewisham Gateway
Lewisham Gateway is one of the largest regeneration schemes in the South East.
Once complete, the scheme will be operated by Get Living and provide 649 homes for rent, 25,000 sq ft of retail space, 15,000 sq ft of food and beverage space, a gym, 10,000 sq ft of offices and Lewisham’s first major multiplex cinema.
Balfour Beatty plc has been appointed as the main contractor of the scheme, which is due to begin works imminently in-line with current government guidance.
Alongside 106 London Living Rent and 424 market rent homes, will be 119 co-living homes.
Get Living’s design team is working closely with Muse on the co-living element to develop well-specified studios and shared space that offer the same level of quality associated with Get Living’s other homes.
The wider development is a joint project between Lewisham Gateway Developments – a subsidiary of Muse Developments, the London Borough of Lewisham, the Mayor of London and Transport for London, supported by Homes England.
Lewisham Gateway has already delivered 362 new homes, alongside new shops and restaurants, a public park with children’s play space and access to the rivers.
It has also provided major infrastructure improvements which include the removal of the Lewisham Northern Roundabout and the implementation of a new highways system.
A safe and vibrant new place to live
Mike Auger, regional director at Muse, said: “The deal with Get Living PLC is a proud moment for everyone involved with Lewisham Gateway, as it highlights investor confidence in our long-term vision – despite the unprecedented situation we all find ourselves in – to deliver a truly transformational scheme that will drive economic and social prosperity in the heart of Lewisham when it’s needed most.”
Rick de Blaby, CEO at Get Living, said: “We are excited to be playing a key role in the next phase of Lewisham Gateway; delivering new homes for rent, alongside retail, co-working and public space for residents and the wider local community.
“This is Get Living’s third London neighbourhood and sixth nationally and we are committed to delivering real social value for local people.
“In these challenging times, we believe that build-to-rent is proving to be one of the most resilient real estate sectors, thanks in large part to its customer-first culture and its commitment to supporting the community.
“We now have a responsibility to ensure this second phase forms an integral part of Lewisham’s town centre as it continues to evolve. Backed by our long-term investors, we are committed to ensuring Lewisham Gateway is a safe and vibrant new place to live and visit, while also helping to address London’s housing challenge.”
Completion of the final phase of Lewisham Gateway is anticipated in 2023.
