L&Q and Countryside complete partnership deal with Barking and Dagenham Council to speed up housing delivery on Beam Park
L&Q and Countryside have completed the sale of 936 homes at Beam Park to Barking and Dagenham Council, in a deal which will be crucial in accelerating much-needed housing delivery on their 72-acre regeneration of a former Ford manufacturing plant in east London.
In one of the largest bulk housing acquisitions made by a local authority, Barking and Dagenham Council will acquire 936 homes in three future phases of Beam Park, of which 50% will be affordable housing and 50% market rental homes.
The agreement creates an exciting new partnership at Beam Park, a joint venture between Countryside and L&Q which is successfully transforming the derelict site of a former Ford manufacturing plant into a new and vibrant destination, in partnership with landowner the Mayor of London.
Beam Park is one of only three regeneration schemes in London delivering at least 3,000 homes and providing 50% high quality affordable housing (including shared ownership, London Living Rent and London Affordable rent homes) to meet the need of local communities. The first two phases of the development are well underway, with 1,154 homes currently under construction of which 235 homes are now completed.
When fully complete Beam Park will have extensive facilities including two schools, retail spaces, a gym, a nursery, a multi-faith centre and two state-of-the-art energy centres. 44% of the development has been allocated for publicly accessible green space, which includes a 3.5-hectare central park in the heart of the development with the River Beam running through it.
Kevin Harris, Director of Project Management and Development at L&Q, said:
“We’re delighted to welcome Barking and Dagenham Council to Beam Park – an important deal which will accelerate the delivery of much needed new homes at one of East London’s most exciting emerging neighbourhoods. We’ve enjoyed an excellent relationship with the London Borough of Barking and Dagenham over the years, and we’re looking forward to extending our partnership with this deal.”
Kevin Delve, Managing Director, East London, Partnerships South, Countryside, said:
“Through working in effective partnerships Countryside aims to create places people love and new affordable homes that provide opportunities for today’s society. This partnership with Barking and Dagenham Council enables us to accelerate the delivery of new homes, helping to meet the demand for high-quality housing in the borough. The first phases of Beam Park have already been transformed from a former Ford factory into a thriving new community, and we are looking forward to repeating this success on future phases.”
Ed Skeates, Development Director at Be First, which helped broker the deal, said:
“The Beam Park project will transform this part of London and is so large it straddles two boroughs.
“So far all the works have been in Havering and with this deal we have been able to accelerate the project significantly and will now see the development start in Barking and Dagenham on a major scale.”
Cllr Darren Rodwell, Leader of Barking and Dagenham Council, said:
“This is a great deal which will see nearly a thousand homes for local people, half of which will be affordable, built on this former Ford site.
“It’s part of a massive shift in gear in the regeneration of Dagenham which will also be home to London’s largest film studios, two huge data centres and the groundbreaking UCL Pearl building.
“No longer will Dagenham be famous for Ford and factories but also film, technology and great homes for everyday people.”
Deputy Mayor for Housing and Residential Development, Tom Copley, said:
“We are delighted to be working with Barking and Dagenham Council to help bring forward much needed homes for Londoners, 50 percent of which will be affordable. Beam Park will be a thriving new neighbourhood for Dagenham, providing high-quality green spaces, schools, retail and community facilities.”