Countryside and Metropolitan Thames Valley Housing (MTVH), one of the UK’s largest housing associations, have signed a JV agreement to deliver a £1bn regeneration scheme at Clapham Park in Lambeth, a borough of inner south-west London.
The regeneration scheme will deliver at least 2,482 high-quality homes across 17 sites, of which 53% will be for affordable tenures. These will comprise family homes, apartments and retirement living.
There will also be a community centre, a market square, two parks, commercial and retail space, and a district heating system.
The homes will be built to high sustainability standards, and residents will benefit from extensive cycle parking, electric vehicle charging points and public realm enhancements.
Since the transfer of Clapham Park from the London Borough of Lambeth, MTVH has completed over 1,500 new homes and refurbishments. In 2019, planning permission was granted for the new masterplan to deliver over 2,500 further homes, extensive green space, infrastructure, community and commercial space.
With the first 50 homes under that permission currently under construction (and completing in 2023), the joint venture will take forward the remainder.
The demolition works currently underway will pave the way for the construction of 520 high-quality new homes as part of phase 1 of the project.
Upon completion, Clapham Park, which spans 36 hectares and is nestled between three local centres – Clapham, Brixton and Streatham Hill – will comprise over 4,000 homes, with first completions expected in 2024.
Guy Burnett, Executive Director of Development, MTVH, said: “As our joint venture agreement with Countryside comes into effect, we are excited to embark on this largescale regeneration project. This regeneration will not only see the creation of new, modern, well-designed homes for thousands of residents, but also the development of high-quality amenities and services. Improving the wellbeing and environment for local people in this way will make a very real difference to the community. We look forward to working in tandem with Countryside, whose expertise in regeneration and community building complements our vision for the place and our long-term ambition to improve the lives of local residents through the provision of high-quality housing and amenities.”
Mike Woolliscroft, Group Co-Chief Executive, Countryside, commented: “We look forward to driving the regeneration of Clapham Park forward together with MTVH now that our JV agreement has entered into force and the demolition works are full steam ahead. As a partnerships-based business, we take a long-term approach to all of our projects and put communities at the heart of everything we do. This project presents an exciting opportunity to reinvigorate Clapham Park by creating safe and welcoming mixed-tenure neighbourhoods with an abundance of green space and amenities for existing and future residents to enjoy for many years to come”.
Cllr Danny Adilypour, Lambeth’s Deputy Leader (Sustainable Growth and New Homes), said: “We welcome this huge investment in the new homes our borough desperately needs in order to address the national failure to build enough new homes to meet the needs of our local communities.
“This failure means more than 3,200 Lambeth households are living in temporary accommodation, because of the huge gap between the level of demand for accommodation and the housing supply.
“So, we are delighted to have been able to help make this project happen, it will help make a real difference to people’s lives.”