Developer recently acquired by Abu Dhabi property firm Aldar plans to build 15-storey scheme in the centre of Woolwich
London Square has bought a 4.5-acre site to build more than 700 homes in Woolwich, south east London.
The housebuilder, has acquired phases three and four of Woolwich Central from Meyer Homes, who was originally intending to build the scheme.
The site has planning permission for 712 homes, of which half are for affordable tenures.
The scheme, designed by Formation Architects, consists of a 15-storey tower of 122 homes for private sale, five blocks of affordable homes, and three blocks of homes for private sale in a landscaped setting. The project also includes 18,405 sq ft of commercial space, plus community amenities.
An earlier 27-storey scheme was rejected by councillors in 2018 on the grounds that it represented overdevelopment and negatively affected the area’s built heritage. The revised 15-storey proposal was narrowly approved in September 2022.
London Square was acquired by giant Abu Dhabi property firm Aldar in a £230m deal last December.
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Adam Lawrence, chief executive officer at London Square, said: “This latest acquisition reflects London Square’s commitment to playing a key role in helping to alleviate the continued housing shortage in Greater London.
“We are investing in sites in well-connected locations to build significant numbers of well-designed affordable and private homes to appeal to those who want to work and live in the capital. The delivery of this Woolwich scheme will help to revitalise the high street area for the local community and businesses.”
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