Grainger plc Regulatory News (GRI)

PRESS RELEASE19 November 2019

Grainger plc

Planning application submitted for Besson Street development in Lewisham

Proposed scheme includes 324 new rental homes, including 35% affordable, a new GP surgery and pharmacy, and new community space

Grainger Lewisham Holdings, a 50/50 Joint Venture partnership between the London Borough of Lewisham and Grainger plc, the UK's largest listed residential landlord, has submitted a detailed planning application to develop land on Besson Street in New Cross Gate.

The submission follows an extensive programme of consultation with the local community, with residents and a range of key stakeholders given the opportunity to input and continue to feedback on plans throughout the design process.

The proposed 'Build to Rent' development, which will be owned by Grainger Lewisham Holdings and managed by Grainger, includes 324 quality new homes for rent, providing a mix of 1, 2- and 3-bedroom homes. 35% of the new homes will be affordable, let at London Living Rent levels. Build to Rent homes are purpose built and designed for renters, improving the overall quality of housing stock in the private rented sector. The new homes will be available with tenancy options up to five years, with an option to renew.

Upon completion, residents will benefit from Grainger's expertise and experience as a leading landlord and commitment to delivering great service for residents, including dedicated onsite management, and repairs and maintenance teams. The offering aims to raise the bar for rental standards in Lewisham.

Residents will also benefit from around 5000 sq.ft of shared amenity space, including elements such as residents lounge, gym and co-working space. Spaces are designed to create opportunities for resident interaction, bringing life into the building and creating a community, where people want to settle and make a home.

The development will also provide a range of benefits for the local community including a new NHS GP Surgery and pharmacy, new office and activity space for the New Cross Gate Trust, and new public realm and landscaped space, including children's play space.

Subject to securing planning permission, construction is expected to start in April 2021 with completion anticipated for April 2024.

Helen Gordon, Chief Executive, Grainger plc said:

"We are pleased to reach this important milestone on the Besson Street development. Working in partnership with the London Borough of Lewisham, we have a great opportunity to deliver 324 quality new homes in Lewisham and a range of additional benefits for the local community. Our aim at Grainger is to redefine the way that people rent property, and at Besson Street, we will combine the flexibility of renting with professional services and terms, to provide our residents with great homes in a great community, with the best rental experience possible."

Spokesperson, London Borough of Lewisham said:

"This development will set a new standard for private renting in Lewisham. Working with Grainger means that Lewisham Council can benefit from their extensive experience with the private rented sector and provide rented accommodation that will be great for private renters in Lewisham. 

This scheme is delivered in addition to the Building for Lewisham programme which is providing new council owned homes for social rent across the borough. We are building a range of different homes that all of our residents need."

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For further information, please contact:

Julie Deighton, Head of Communications, Grainger plc: jdeighton@graingerplc.co.uk