Lovell to be paid £87.5m by Greenwich council for homes to rent to people on housing waiting list 

The Royal Borough of Greenwich has bought 265 homes in Woolwich from developer Lovell Partnerships for £87.5m. 

Trinity Park

Trinity Park: Part of Greenwich’s plans for regenerating Woolwich

Lovell is building the homes, which will be let to people on Greenwich’s housing waiting list, as part of the redevelopment of the former Morris Walk and Maryon Grove Estates in Woolwich. 

Anthony Okereke, leader of the Royal Borough of Greenwich, said: “This decision will result in both a major acceleration of this redevelopment while also creating hundreds of new homes for local people on our waiting list.”

The properties will be part of the council’s commitment to create 1,000 new council homes in the second phase of its home-building scheme ‘Greenwich Builds’. The council’s scheme aims to see 1,750 new homes built for rent to local people on the housing list.   

Aidan Smith, Greenwich’s member for housing councillor, said: “This makes for a great start to Phase 2 of the Greenwich Builds programme, which is already creating over 750 sustainable new council homes across the borough and will see rapid expansion in its second phase.”

Lovell will build the Woolwich homes in a range of sizes from one-bedroom apartments to four bedroom houses. They will meet low carbon emissions criteria, with thermal efficiency measures and low energy requirements to reduce running costs for tenants.

Right to Buy receipts, borrowing from the Housing Revenue Account and capital receipts will also pay for the council to gain three commercial units as part of the purchase.