Following a competitive tender process, Peabody has been selected by Ealing Council as the developers to deliver ‘The Green’, a major residential-led mixed use regeneration opportunity.
The new development will bring improvements in the quality of public space, supporting and enhancing ‘The Green’ district centre with 5,000 square metres of commercial space, creating 260 jobs and replacement public car parking.
The development opportunity arose from the council’s objective to make better use of its land. Much of the site is currently a council-owned surface level car park. By building on top of the car park, the council is able to deliver its aspirations for new affordable housing, jobs, community space and high quality public space while contributing to the improvement of regeneration areas, including Southall.
‘The Green’ is one of the most exciting development opportunities in west London and will contribute to the ongoing regeneration of Southall. The area will benefit from significantly reduced journey times to central London, once the Elizabeth Line (Crossrail) is fully operational in 2019. Following public consultation, a planning application is due to be submitted in 2019 with the scheme anticipated to start in 2021.
Councillor Julian Bell, leader of Ealing Council said: “We were delighted with the level of interest in ‘The Green’ and the high quality of the bids we received reflects the confidence developers have in the future regeneration of Southall. We are excited that two bidders both proposed to deliver 50% affordable housingand are excited to work with Peabody to progress delivery of the scheme.
"We are committed to deliver 2,500 genuinely affordable new homes in Ealing by 2022."
Brendan Sarsfield, Chief Executive of Peabody said: “The Green is Peabody’s first major land partnership with LB Ealing and we are committed to further projects in the borough. Our new development programme constitutes £1bn of investment in new housing and we have ambitious plans to start over 10,000 new homes by 2021.Through an extensive selection process, we have demonstrated the skills, experience and financial strength to bring forward this exciting opportunity in the heart of Southall.
“This scheme will be a major catalyst for the regeneration of the area, by reconnecting the site to the town centre and creating a new hub. We are proud to have been chosen as the council’s development partner for the project, and look forward to working together to provide top-quality, genuinely affordable homes, jobs and business opportunities in the borough.”