Plans for Greenwich Peninsula just months away

Grant Prior 12 years ago
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Detailed plans for the transformation of the remaining 12.6million sq ft of Greenwich Peninsula will be submitted before the end of the year.

Developer Quintain Estates confirmed the timetable in a trading update to the City today.

Quintain is working in joint venture with Hong Kong investor Knight Dragon who have released an initial £28.8m of an ongoing £300m funding package for the scheme.

Quintain chief executive Max James said: “The completion last month of our new joint venture with Knight Dragon at Greenwich, with the ongoing provision of up to £300 million of funding, guarantees the long-term financing for the 14 million sq ft development while securing significant additional income streams for Quintain.”

Knight Dragon took over from Lend Lease who sold its share in the scheme for £100m.

So far £127m has been spent on infrastructure at the site and the first stages of development around the public realm in front of The O2 entertainment complex have been completed.

The next stage of the project will focus on delivering housing.

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