Stratford site sold for development of 380 new homes
A site in Stratford, East London has been sold to Telford Homes in a project that will see 380 new homes.
The site was sold by LCR, the Department for Transport (DfT) and HS1 Limited.
Currently used as a bus layover and taxi rank, the site is situated on International Way.
The site is located on International Way, to the west of HS1’s Stratford International Station. It is currently used as a bus layover, taxi rank and for rail activities.
Some 60 per cent of the new homes will be build to rent and 40 per cent will be defined as affordable.
Comprising two towers, the development will have flexible retail and office space.
It is the first major land disposal that DfT and HS1 have worked on together as freeholder and leaseholder.
The duo have identified more land along the HS1 route for housing and employment redevelopment, including in Stratford, St Pancras, and Kings Cross.
Peter Hawthorne, CEO of LCR, said: “Meeting Britain’s housing need requires collaboration and a creative approach to bring forward new development. Our objective is to be ambitious in how we identify and unlock land for new homes, and the transformation of this bus layover into a new community space is a great example of how challenging brownfield sites can be developed.
“Ultimately, sustainable placemaking is about making the most of the resources – in this case land – on offer. We’re maximising our long-term partnerships with organisations across the public, private, transport and real estate sectors to bring forward land that otherwise have been too complex to develop, both in Stratford and beyond.”
This article was originally published in print and incorrectly made a reference to Transport for London, which is not involved in the project.