Morgan Sindall lands £250m Lewisham Gateway development deal
Construction firm Morgan Sindall has received £252m in funding from private landlord Get Living to complete the Lewisham Gateway redevelopment project.
The development, which is expected to be completed in 2023, will 649 rentable properties, as well as a combined 50,000 square feet of shops, restaurants and office spaces.
It will also contain Lewisham’s first major multiplex cinema, a nine-screen facility pre-let by Empire for 25 years.
The project, which is located approximately 10km for Piccadilly Circus in south-east London, is being managed by Morgan Sindall’s urban regeneration arm Muse.
Thus far, 362 new homes have already been built, as well as offices, shops and a play park for children.
Developers have also improved the site’s transport links, including by removing the Lewisham Northern roundabout.
The site was previously identified as one of the first 10 regeneration schemes in the ‘100 Public Spaces’ programme, and an outline planning application was submitted in 2006.
The first phase of the project, which has an overall cost of £375m, is now nearing completion.
John Morgan, chief executive of Morgan Sindall Group, said: “This deal reinforces our regeneration strategy and is testament to our expertise in this area.
“We look forward to working in partnership with Get Living to deliver a transformational scheme to the local community.”
Get Living chief executive Rick de Blaby said: “We are excited to be playing a key role in the next phase of Lewisham Gateway; delivering new homes for rent, alongside retail, co-working and public space for residents and the wider local community.
“This is Get Living’s third London neighbourhood and sixth nationally and we are committed to delivering real social value for local people.
“In these challenging times, we believe that build-to-rent is proving to be one of the most resilient real estate sectors, thanks in large part to its customer-first culture and its commitment to supporting the community”.