Places for London seeks partner for £2bn resi scheme

Transport for London’s property arm Places for London has formally started the search for a partner to help fund its £2bn residential scheme in Canning Town, east London. The TfL property company has begun the procurement process to appoint a joint venture development partner and development manager for its Limmo Peninsula site, E16. Comprising around 538,196 sq ft of brownfield land with more than 600m of river frontage, the site has the potential to provide around 1,500 new homes and commercial space. It will be offered to the market on a long-leasehold basis. It does not yet have planning consent, although Places for London has undertaken pre-application meetings with the London Borough of Newham to establish planning principles in the tender documentation. The site was previously up for development and sale in 2018, but was withdrawn after failing to attract interest from the developers on its Property Partnerships Framework. It was subsequently used as a Crossrail tunnelling site until 2021. Places for London previously outlined its intentions to begin a new search for a partner last year. The move forms part of a wider development drive for the company.  The deadline for bids is 6 March. Ben Tate, head of property development at Places for London, said it is seeking a partner to “help us transform this site into a sustainable development that will benefit the local community” while also “generating vital revenue that can then be reinvested into the transport network”. See what else is going through planning in the London Borough of Newham >> Image © Places for London