London Square has acquired the Leegate Shopping Centre site in Lewisham, south-east London, for a residential redevelopment.
The site is London Square’s 14th purchase since being acquired by Aldar at the end of 2023. The company has said it intends to build a £15bn platform in the next five years.
London Square acquired the site from Galliard Homes. It has planning consent for 562 homes, comprising 389 private and 173 affordable houses, with 50,000 sq ft of commercial space. It expects to start on site later this year.
Adam Lawrence, chief executive at London Square, said: “This acquisition will herald a new chapter for Lee town centre, with much-needed homes and a new retail and leisure destination to attract the existing community and new residents. We look forward to working with the London borough of Lewisham to get the redevelopment under way later this year.”
This latest acquisition follows the purchase of Ransome’s Wharf in January. Last year, London Square acquired a former convent site in Tite Street, next to the Royal Hospital Chelsea, SW3. Other acquisitions included the Grade II* listed Surrey County Hall in Kingston, Westminster Tower, opposite the Houses of Parliament, plus sites in Vauxhall, Brook Green, Woolwich, Stratford Cross, Willesden and Twickenham.
The 14 sites – with 10 already under construction – will deliver more than 2m sq ft and 7,000 homes across 10 London boroughs. London Square’s development pipeline has doubled to £3.8bn gross development value. Of the sites acquired, 38% of the homes being delivered will be affordable.
Credit: London Square
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