Berkeley has revised its plans for its gas works site in Fulham, SW6, through its St William subsidiary, a joint venture with National Grid.
In a planning application submitted to Hammersmith & Fulham Council, St William has proposed 1,843 homes in blocks ranging in height from one to 37 storeys. Some 35% of the homes would be affordable.
In 2016 St William submitted an application for 1,375 homes, in blocks of up to 27 storeys, which has yet to be decided, following three time extensions.
The new planning documents state: “The masterplan has been reviewed to establish whether an alternative high-quality design proposal of increased density can be delivered appropriately, which would enable an increased proportion of affordable units to be delivered.”
Berkeley is also revising its adjoining Imperial Wharf scheme in Fulham, where two blocks remain to get under way. They were granted permission at eight storeys, but Berkeley has submitted EIA plans for two blocks of up to 30 storeys.
Last week, St William got approval from Lambeth Council for the redevelopment of the Oval gas works, next to the famous cricket ground. The plans include 738 homes in blocks of up to 18 storeys; 35% of the homes will be affordable.
In its annual results released this morning, Berkeley reported that it sold 3,536 homes in the year to April, down from 3,905 in the previous year. The average selling price, however, rose from £675,000 to £715,000.
Revenue was flat at £2.7bn, though profit before tax jumped by 15.1% to £934.9m. Earnings per share were up by 20.3% to 562.7p.
Berkeley chairman Tony Pidgley said: “It is telling that some funders and builders are choosing to exit the market when faced with the degree of risk and regulation that now confronts development in the capital, where macro and political uncertainty, including Brexit, are leading to this caution.”
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