Get Living London is in talks to sign a forward funding deal with Muse Developments to build out the rest of their 1,000-home Lewisham Gateway scheme, SE13.
Revised plans to increase the residential offer to include co-living space, as well as co-working space, were granted consent by Lewisham’s planning committee last week.
The second phase comprises 421 private build-to-rent homes, 106 London Living rent affordable homes, and 114 co-living units. It has en estimated gross development value of more than £200m.
Get Living will manage all 641 homes across the private, affordable and co-living rental sectors.
Muse has also exchanged a binding conditional legal agreements with Empire Cinemas to deliver the leisure element of the major regeneration scheme, which started construction back in 2014.
Original plans revised
In total, including phases 1a (complete) and 1b (currently under construction) the scheme will provide around 1,000 homes.
Part of the earlier phases were acquired by Fizzy Living, who paid more than £35m for 136 rental homes.
The original consent, granted in 2009, would have provided around 800 homes in total, as well a hotel. This was dropped in favour of co-living space.
The revised plans were granted through a S73 application, rather than a new application, meaning the scheme is not referable to the Mayor of London.
The mayor’s office is still yet to grant planning consent for any co-living schemes.
Speaking on last week’s planning approval, Michael Orr, Development Director at Muse Developments said: “Working in conjunction with Lewisham Council we were delighted to receive consent for our amendments to the Lewisham Gateway Masterplan.
“Once completed this will provide a vibrant and exciting addition for the London Borough of Lewisham.”
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