The Guinness Partnership has acquired a residential development site in Bromley-by-Bow, E3, with consent for more than 400 homes.
The £200m canalside Imperial Street scheme was acquired from Lindhill Properties, which gained consent in January.
Comprising 407 new homes, 80 of them affordable, across five residential blocks and a series of ground floor commercial spaces, Imperial Street was designed by bptw partnership and Pitman Tozer Architects.
The Guinness Partnership is one of the largest providers of affordable housing and care in the UK, managing 66,000 homes and providing services to 140,000 people.
JLL advised The Guinness Partnership.
Lindhill Properties recently sold the 785-home Ailsa Wharf development, just south of the Bromley-by-Bow site, to Chinese developer Country Garden, the world’s largest residential developer.
In terms of contracted sales, Country Garden is 23 times larger than Barratt, the UK’s largest housebuilder.
Lee Fitzpatrick, director at Lindhill Properties, said: “The sale of Imperial Street, coupled with the design attributes of the development itself, will truly kick-start the regeneration of Bromley-by-Bow south and the new district centre.
The area has seen a huge amount of activity in recent years, with Palmer Capital’s Danescroft receiving planning consent for a neighbouring development, IKEA’s Vastint project now well under construction, and the neighbouring Tesco site, owned by British Land, seeing a recent environmental impact application for mixed-use.
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