L&Q has snapped up a significant regen opportunity in Wandsworth.
The “keystone” Garratt Place site has been sold off by Wandsworth Council and South Thames College with scope for 200 new homes, a new public library, shops and teaching facilities. The combined GDV is around £150m.
Winckworth Sherwood advised L&Q; Pinsent Masons acted for Wandsworth Council; Eversheds acted for South Thames College.
Winckworth Sherwood’s Charlie Proddow: “This is a keystone project for L&Q and for Wandsworth, and will breathe new life into this important town centre space. We are delighted to have been able to play our part in successfully concluding negotiations for what proved to be a complex transaction.”
Jerome Geoghegan, Group Director of Development and Sales at L&Q: “We are delighted to be playing our part in driving forward one of the largest urban renewal projects in London. Once completed, this landmark development site in Wandsworth will provide an exciting mixed used development offering high quality homes for people across a range of incomes. This development supports L&Q’s ambitious plans to develop a pipeline of a further 50,000 new homes within a decade to deliver communities that make the capital an even better place to live.”
L&Q, which owns and manages over 72,000 homes across Greater London, is currently in talks with The Hyde Group and East Thames, with a view to creating the UK’s fourth largest house builder.
Indicative site plan courtesy of Lambert Smith Hampton