Balfour Beatty to start £250m Lewisham Gateway phase 2

Aaron Morby 2 years ago
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Morgan Sindall’s Muse regeneration operation has struck a £252m forward funding deal for the second phase of the Lewisham Gateway project in south London.

Main contractor Balfour Beatty will start work immediately
Main contractor Balfour Beatty will start work immediately

The deal with private rental residential specialist Get Living allows main contractor Balfour Beatty to get to work on four blocks, one rising to 30 storeys.

Once completed in 2023, the final phase of the Lewisham scheme will be operated by Get Living and provide 649 homes for rent.

There will also be 25,000 sq ft of retail space, 15,000 sq ft of restaurants and bars, a gym, and Lewisham’s first major multiplex cinema which has been pre-let.

Graham Hill, managing director of Balfour Beatty’s UK Construction Services business in London, said: “Our selection for the Lewisham Gateway Phase Two development is testament to Balfour Beatty’s ability to deliver key regeneration projects in London.”

The wider development is a joint project with the London Borough of Lewisham, the Mayor of London and Transport for London, supported by Homes England.

Lewisham Gateway has already delivered 362 new homes, alongside new shops and restaurants, a public park with children’s play space and access to the rivers, plus major infrastructure improvements which include the removal of the Lewisham Northern Roundabout and the implementation of a new highways system.

John Morgan, Chief Executive of Morgan Sindall Group, said: “This deal reinforces our regeneration strategy and is testament to our expertise in this area.

“We look forward to working in partnership with Get Living to deliver a transformational scheme to the local community.”

 

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