Southern Housing Group have today completed the purchase of sites at Bromley by Bow from their partner East Thames Group.
The two housing associations jointly purchased their first site in the area in 2007 and went on to work in partnership to secure planning permission for a 740 home, mixed used development covering three sites, at Hancock Road, E3.
The sites will now be 100% owned by Southern Housing Group who intend to progress the development as soon as possible, with a start on site anticipated in Summer this year.
Southern Housing Group, Development Director, Dale Meredith says: “We worked in a close partnership with East Thames to progress this opportunity and are delighted to be able to consolidate our investment in Bromley by Bow prior to starting construction.”
Phase 1 of the project will deliver 219 homes and 10,000 sq ft of commercial space. Other benefits include improvements to the towpath on the neighbouring River Lea and environmental improvements to the river itself. Completion is expected late 2016. Phase 2 will follow soon after and includes 101 apartments, many with river views.