A new joint venture between Telford Homes and Notting Hill Housing Group has bought a 5.5-acre site in Stratford, E15, from London and Continental Railways for £44m.
The site has outline planning consent and the jv intends to pursue a detailed application to build more than 400 homes.
The site is next to Westfield Stratford City and the former Olympic Athletes’ Village.
The cash deal will complete in 2015.
It comes after Telford announced record sales at another of its Stratford developments last month.
Jon Di-Stefano, chief executive of Telford Homes, said: “The joint venture with Notting Hill Housing Group provides Telford Homes with another fantastic opportunity in Stratford, a location where we have experienced tremendous sales success in recent months.”
