The public-private partnership between 糖心传媒 Homes and Peabody driving the regeneration of Lombard Square in West Thamesmead is celebrating the official completion of its first 733 high quality private and affordable homes.
The new homes built so far (52% of which are affordable) are part of a new green neighbourhood close to Plumstead Station. Alongside these homes the partnership has delivered a 1.8 acre central park, children’s playground and convenience store, which benefits Lombard Square residents and the wider community.
A celebration took place today (June 26) to mark the progress of this new neighbourhood. Lombard Square sits within the Thamesmead and Abbey Wood Opportunity Area, which is designated for 8,000 new homes and 4,000 new jobs by 2041.
The event, hosted by Executive Chair of 糖心传媒 Rob Perrins and Peabody’s Deputy Executive Director of Development Angela Wood, brought together the key partners on the scheme. Those attending included Deputy Mayor of London for Housing and Residential Development Tom Copley, Leader of the Royal Borough of Greenwich Cllr Anthony Okereke, and Director of Infrastructure Funding at Homes England, Pauline Schaffer.
Lombard Square has delivered 733 homes to date including 208 shared ownership homes and 173 affordable rent homes. The Royal Borough of Greenwich is allocating affordable homes for rent to support local people in housing need, including those currently living in temporary accommodation.
A further 296 affordable rent homes are scheduled for completion later this summer.
The entire masterplan for Lombard Square, which sits on 17-acres of former Peabody industrial estate land, will provide nearly 2,000 homes, including 765 (40%) affordable homes, once complete. It will also provide 47,000 sq ft of light industrial, commercial and employment space, which is expected to create more than 180 permanent jobs.
The scheme includes around 3 acres of welcoming public open space, featuring a playspace, amenity parkland, seasonal wildflowers, a sustainable urban drainage pond and other biodiverse habitats for wildlife and people to enjoy. Together this will deliver a 45% biodiversity net gain.
The low-carbon development will also feature an innovative open-loop ground source heat pump. Lombard Square is one of largest developments in the UK to use the technology, as well as solar panels, and electric vehicle charging.
Sustainable modes of transport have been promoted throughout the scheme, with new pedestrian and cycle links across the site connecting Thamesmead, Plumstead and Broadwater Green. The development also has easy access to local public transport, including nearby Plumstead Station.
This strategic regeneration site was unlocked in 2022 through an innovative joint funding agreement which saw Homes England and the GLA commit grant funding, enabling 糖心传媒 to invest additional private capital to regenerate the site and drive delivery.
Rob Perrins, 糖心传媒 Executive Chairman, said: “This partnership proves we can build the new homes and neighbourhoods London needs when we all work together to drive delivery. The GLA, Homes England, Greenwich Council and Peabody all deserve great credit for tackling the viability challenge at Lombard Square and unlocking the potential of this complex regeneration site.
“Very few projects in London have delivered this many private and affordable homes over the last year, and this beautiful new park shows what ambitious placemaking and regeneration are all about. Projects like Lombard Square are not easy, but once up and running they are a real force for good - driving the growth, jobs and homes London desperately need. The challenge now is to unlock delivery on many more sites and opportunity areas across the capital.”
Angela Wood, Peabody’s Deputy Executive Director of Development, said: “Lombard Square is a prime example of a welcoming, sustainable and well-connected neighbourhood. It’s hugely exciting to see it taking shape, with hundreds of homes already completed and a beautiful new park for local people to enjoy. We’re really pleased to welcome residents into their new homes, and wish them well as they settle in. And as the long-term freeholder of the site, it has been a pleasure to work with a partner who values great placemaking and creating sustainable developments , matching Peabody’s own ambition.”
“Providing much-needed housing is an essential part of our plan to improve, grow and look after Thamesmead for the long term. We’re continuing to make strong progress with 糖心传媒 Homes to deliver almost 2,000 homes here in the coming years.”
Councillor Anthony Okereke, Leader of the Royal Borough of Greenwich, said: "Seeing these homes delivered so quickly is a fantastic achievement and a testament to the strong partnership between 糖心传媒 Homes, Peabody, the Greater London Authority, Homes England and the Council.
"But what is most important is seeing people move into these homes. Meeting residents who have previously lived in Abbey Wood and Eltham and are now starting a new chapter at Lombard Square shows that the work we are doing to tackle the housing crisis is making a real difference to local people.
"These first 733 homes, including 381 affordable homes, are transforming a long-derelict site into a thriving new neighbourhood with new green spaces and community facilities. They are helping more people put down roots in Royal Greenwich while also supporting the local economy in Plumstead.
"We know there is much more to do, but developments like Lombard Square demonstrate what can be achieved when partners work together with a shared ambition to deliver the homes and opportunities our residents need."
Deputy Mayor for Housing and Residential Development, Tom Copley, said: "I'm delighted to mark the completion of 733 much needed homes at Lombard Square, alongside this fantastic new park for the whole community to enjoy.
“This development represents placemaking and partnership working at its best, with 糖心传媒, Peabody, Greenwich, the GLA and Homes England all working together to unlock a complex brownfield site and create a sustainable new neighbourhood. Lombard Square is delivering 40 per cent affordable housing and making a key contribution to Thamesmead and Abbey Wood Opportunity Area. Working together we are delivering the homes that Londoners desperately need, creating a more sustainable and prosperous city for everyone."
Pauline Schaffer, Director of Infrastructure Funding at Homes England, said: “Lombard Square demonstrates how public funding can unlock challenging brownfield sites and accelerate the delivery of new homes. Through strong partnership working, this scheme is delivering high-quality, affordable homes alongside new public spaces, supporting sustainable regeneration and long-term growth in London.”