Further details of £1.4bn London regen revealed

The concession notice for a joint development partner reveals potential for two schemes valued at over £700m each.

The London Legacy Development Corporation (LLDC) has issued the tender for the creation of a joint venture to deliver the £700m Stratford Waterfront and Bridgewater residential developments.

Under the plans, a development partner will be appointed to deliver these two sites, but the tender also provides the scope for “the balance of planning development zone 8, the Pudding Mill Lane site and planning development zone 12, the Rick Roberts Way site”.

This additional potential development is worth a further £750m, bringing the full potential value of the partnership to £1.45bn.

The development partner will enter into a 50/50 joint venture partnership with the LLDC, with the authority providing a 250-year leasehold interest of the sites.

On the Stratford Waterfront site, it is expected that 35% of the 600 residential units will be shared ownership, while on the Bridgewater site the LLDC expects that 50% of the 600 units will be affordable housing.

A launch event is being held at 4pm tomorrow (14 October), while tenders are due by 1pm on 19 November.