Next phase of £375m London resi job OK’d after funding deal inked

Morgan Sindall’s regeneration arm Muse has inked a deal with private rental specialist Get Living for the next phase of its Lewisham Gateway project.

The £252m of forward funding means Balfour Beatty, which beat Multiplex to the job last year, can now start in earnest on this phase which will see a block comprising elements of three, 10 and 12 storeys, one of four storeys, another featuring 16 to 19 storeys and a fourth comprising 30 storeys.

The construction value of the second phase is understood to be around £200m. Work is due to finish in 2023 with Get Living operating this phase.

Designed by UN Studio with executive architect PRP, the practice behind the first phase, the blocks will deliver 649 homes for rent. The second phase also includes retail, a cinema and gym as well as co-working space.

The first phase saw just under 200 flats built over two buildings at 25 and 15 storeys high. This work was carried out by John Sisk.

Get Living runs 3,000 build-to-rent homes, mainly at two schemes at East Village, the former athletes’ village in the Queen Elizabeth Olympic Park in Stratford, and Elephant Central at Elephant and Castle in south-east London.

It is jointly owned by Dutch pension fund asset manager APG, real estate developer Qatari Diar, Oxford Properties and a Delancey-advised fund DV4.

Other firms working on the scheme include project manager TPS, QS Gardiner & Theobald and M&E enginer Hoare Lea. Façade consultant is Eckersley O’Callaghan while Cast is the funder’s representative.