06 February 2024
Transport for London’s commercial property arm is looking for a joint venture development partner to redevelop five hectares of land in East London.
The Limmo Peninsula in Newham was previously used as a work site when the Elizabeth line was being constructed. It features five hectares of land, with 600m of river frontage within the Royal Docks and Beckton Riverside Opportunity Area.
Transport for London’s (TfL) commercial property company, Places for London, has said that the site could be used to provide up to 1,500 new homes, commercial space and large areas of publicly accessible open space. TfL intends for the area to be car-free, with some blue badge parking spaces.
The details of the equity joint venture have not been confirmed, but Places for London are likely to take a smaller share with the partner becoming the majority stakeholder.
Ben Tate, Head of Property Development at Places for London, said: “We are excited to be searching for a joint venture partner to help us deliver a residential-led scheme at Limmo Peninsula in the heart of east London. With the ability to build up to 1,500 new homes, including affordable housing, alongside a range of other improvements, this is a unique opportunity for a partner to help us transform this site into a sustainable development that will benefit the local community.
“This partnership will form part of our wider programme, which seeks to build the homes and commercial spaces the city needs, while also generating vital revenue that can then be reinvested into the transport network.”
Potential joint venture development partners are advised to register as a supplier on TfL’s e-tendering Portal https://service.ariba.com/Supplier.aw
Picture: a photograph showing the Limmo Peninsula from above. Image Credit: TfL
Article written by Ella Tansley | Published 06 February 2024
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