CONTACTAward-winning residential developer London Square continues its expansion across the capital, with the acquisition of the Leegate Shopping Centre site, close to historic Blackheath village and common in South-east London. The site is London Square’s 14th purchase since being acquired by Aldar at the end of 2023.
London Square plans to deliver an attractive mixed use destination development, with high quality homes featuring communal areas in a landscaped setting with retail, leisure, restaurants, cafes, and a medical facility. The redevelopment will bring a new focus to the heart of Lee town centre in the London borough of Lewisham.
Acquired from Galliard Homes, there is currently planning in place for 562 homes, comprising 389 private and 173 affordable houses, with 4,538sqm of ground floor commercial space. London Square will work with the London borough of Lewisham to increase the level of residential options in an area where there is a shortage of new build homes being delivered. Start on site will be later this year.
London Square already has a strong track record in the area, having delivered an award-winning development in the centre of Greenwich, and also providing 100 per cent affordable homes on behalf of affordable registered provider Square Roots in Lewisham.
Adam Lawrence, London Square’s Chief Executive Officer, said: “This acquisition will herald a new chapter for Lee town centre, with much-needed homes and a new retail and leisure destination to attract the existing community and new residents. We look forward to working with the London borough of Lewisham to get the re-development under way later this year.”
The location will appeal to commuters working in the City and West End. There are fast train links to Zones 1 and 2 from Lee station, with London Bridge taking 12 minutes, plus services to Canary Wharf and Bank. Blackheath station has services to Charing Cross taking 23 minutes and London Victoria in 29 minutes. There are also excellent bus links. The town centre has a range of shops, cafes, restaurants, and a large Sainsbury’s.
Blackheath is a 10-minute walk and is one of London’s most historic and attractive villages, within a conservation area and with boutiques, restaurants, independent produce shops and cafes. Nearby green spaces include Blackheath Common, the Royal Blackheath Golf Course, one of London’s oldest and most prestigious golf clubs, and the Royal Greenwich Park, with stunning views across to the city and home to the Royal Observatory.
This latest acquisition follows the purchase of Ransome’s Wharf in January. Last year, London Square acquired a former convent site in Tite Street, next to the Royal Hospital Chelsea. Other acquisitions included the Grade II* listed Surrey County Hall in Kingston, Westminster Tower, opposite the Houses of Parliament in the heart of the capital, plus sites in zone 1 Vauxhall, Brook Green, Woolwich, Stratford Cross, Willesden and Twickenham.
The 14 sites – with 10 already under construction – will deliver more than two million sq ft of real estate across 10 London boroughs. The development pipeline has doubled to £3.8bn gross development value. Of the sites acquired, 38 per cent of the homes being delivered will be affordable housing – making a significant contribution to alleviating the housing shortage in the capital. London Square will deliver more than 7,000 homes in London over the next five years.
CALL