The London Legacy Development Corporation (LLDC) has formed a 50/50 joint venture partnership with Vistry Group plc (LON:VTY) for the delivery of 948 new mixed-tenure homes and a GDV of c.£0.6bn. The partnership will lead to the creation of a new community located next to Pudding Mill Lane DLR station in Stratford, East London.
The development will be brought forward over four phases, with a minimum of 45% of the new homes being affordable, as well as over 30,000 sqm of non-residential floor space to accommodate a mix of workspace, retail, community and leisure uses.
A rich mix of social infrastructure and high-quality public amenities will also be provided to ensure the delivery of a sustainable long-term community. The new scheme will support the growth and development of East London, with employment and skills opportunities for local residents, businesses and start-ups integral to the development.
Construction of the first phase is anticipated to start in summer 2026, with completion of the overall scheme scheduled for 2033.
Greg Fitzgerald, Chief Executive of Vistry Group, said: “This is a fantastic opportunity for our partnerships business to revitalise this area of East London and create a thriving and sustainable new community. We are very pleased to be working in partnership with the LLDC and the GLA to provide the mix of high-quality new homes that residents desperately need, alongside the infrastructure, facilities and socio-economic opportunities required to support them.”
Rosanna Lawes, Executive Director of Development at LLDC, said: “It’s exciting to move forward with the development of Pudding Mill Lane. The joint venture partnership with Vistry means that we can rapidly build on the Park’s successful legacy to create another thriving and sustainable community. Quality design is at the heart of the scheme both in well-designed and sustainable homes, in high quality public realm, amenities and significant workspace that creates truly successful places.”
