Peabody is in advanced talks to buy a £200m residential-led scheme adjacent to the Olympic Park in Stratford, E20.
The housing association?is buying the project from Neptune Group for around £35m.
The Neptune Wharf development will comprise ?562 homes and 36,000 sq ft ?of commercial space on the former industrial site. The residential element will provide market sale, affordable rent and shared ownership housing.
Sources said the scheme would provide the necessary cross-subsidy to deliver affordable homes.
Stock Woolstencroft-designed Neptune Wharf is part of the regeneration of Fish Island, a major opportunity within the Olympic fringe.
Peabody, in a venture with Mace and Argent, is also one of three shortlisted bidders to bring forward the Eastwich and Sweetwater neighbourhoods in the 500-acre Olympic Park. They have consent for 1,500 homes and 145,000 sq ft of shops and commercial space.
annabel.dixon@estatesgazette.com
