Knight Dragon is to radically increase the volume of housing at Greenwich Peninsula following its decision to tear up the original masterplan for the project.
The Hong Kong developer wants to build 50% more homes on what is already London’s largest residential regeneration.
The 2004 masterplan provided for up to 10,000 homes on the SE10 site. However, following a consultation in December 2014, Knight Dragon now hopes to build 15,000 in total.
A spokesman for the project said: “Much has changed since the original planning permission was granted for the Greenwich Peninsula masterplan in 2004. Knight Dragon, the master developer, is now looking to update the masterplan.”
Knight Dragon, owned by billionaire Henry Cheng Kar-Shun, bought out Quintain’s 40% stake in the project in November 2013 for £186m, giving it 100% ownership 16 months after its initial investment.
It has already invested £500m in the project, which is a joint venture with the Greater London Authority.
The spokesman added: “The 2004 masterplan includes 10,000 homes and we are looking to increase this to reflect the shortage of housing in the capital, both affordable and private for sale, delivering a range of homes consistent with creating a balanced community.”
The developer is expected to hold further consultations later this month ahead of a revised masterplan being submitted.
