Homes England has approved a £124m funding package to unlock homes and deliver infrastructure at Barking Riverside in east London.
The 443-acre brownfield site, formerly occupied by Barking Power Station, is one of Europe’s largest placemaking projects.
The finance package is a combination of loan and grant funding and will help master developer Barking Riverside Ltd – a partnership between L&Q and the Mayor of London – to prepare the land, including flood defence work, and allow for the construction of an energy centre and parks.
The works will also make it possible for the delivery of a further 16,500 homes on the site. Some 3,500 homes are already built or under construction by housing association L&Q and housebuilder Bellway.
The site currently has planning consent for 10,800 homes, approved by Barking and Dagenham Council in 2008. However, it has since been identified that the site could house up to 20,000 homes, with a minimum of 35% of these being affordable.
Fiona Fletcher-Smith, chief executive at L&Q, said: “This new funding from Homes England is a vital boost for Barking Riverside. With demand for affordable housing soaring, housing associations such as L&Q are essential to delivering solutions — but real progress depends on government support. That’s why this investment is so important: it allows us to do more, faster, and at a scale that truly meets the needs of local people.
“Barking Riverside shows what’s possible when ambition meets collaboration. Through strong partnerships and a shared vision, we are transforming this brownfield site into a sustainable community, prioritising quality homes, green spaces and new opportunities. The progress here is a testament to what two like-minded organisations can achieve together, and we’re excited to move forward with the next phase of homes and infrastructure for the people of east London.”
Matthew Carpen, managing director of Barking Riverside, said: “Barking Riverside has delivered thousands of vitally needed new homes for Londoners on brownfield land that has already seen a significant investment in infrastructure. However, the support from Homes England will enable this project to move into a new era — increasing the level of ambition and unlocking housing at the scale needed to truly make an impact.
“We are excited to make our new masterplan a reality, which would not be possible without a number of important partnerships. Fundamentally, this funding from Homes England ensures that Barking Riverside can remain delivery-focused and resilient despite a challenging market.”
Peter Denton, chief executive of Homes England, said: “Delivering the government’s target of building 1.5m homes will require support and collaboration from across the housebuilding sector.
“At Barking Riverside there is potential to literally build more homes – and more affordable homes – in a place where they are desperately needed. And that’s why we’ve stepped in, providing funding to deliver vital infrastructure, unlocking more land, so that our partners can build even more homes for the people of east London to enjoy and be proud of.”
Image © NLA
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