Plans unveiled for £95M London housing project

WCN Editorial Team 3 Feb 2017 EUROPE BUILDINGS

Residential property developer Telford Homes is set to redevelop the former London Electricity Board (LEB) building in Bethnal Green, East London [pictured], into affordable housing, it was announced on Wednesday.

Telford bought the development site from the London Borough of Tower Hamlets for £30.2M.

Redevelopment of the 0.94-acre site at Cambridge Heath Road will provide commercial space in addition to the residential units. The project will involve an investment of about £95M.

Telford Homes’ CEO Jon Di-Stefano said: "This development fits perfectly with our strategy of developing sites in non-prime London locations where there is a fundamental lack of supply of new homes compared to significant demand from prospective owners and tenants.

“The site adds to our already strong pipeline of high quality developments and we look forward to securing a planning consent and commencing construction as soon as possible next year."

Subject to planning permission, construction work is expected to begin on site in 2018 and be completed in 2021.

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