Galliford Try plc, the housebuilding and construction group, announces that it has signed a development agreement with the Greater London Authority to secure planning and construct the Silvertown Way development in Canning Town, East London.
The proposals will create more than 1,100 mixed tenure homes across a series of individual blocks, in a scheme that has an approximate gross development value of £380 million, making it the largest standalone housing scheme the company has undertaken.
The project will be delivered through an existing joint venture vehicle with Thames Valley Housing Association. A third of the homes will be for private market rent, through Thames Valley's subsidiary Fizzy Living, while around 380 affordable homes will also be constructed for London and Quadrant Housing Association.
Galliford Try's housebuilding businesses, Linden Homes and Galliford Try Partnerships will be responsible for undertaking the development, which is proposed to include a hotel, restaurant, employment and commercial space alongside the new homes.
Greg Fitzgerald, Galliford Try's Executive Chairman, commented: "I am delighted that we have been able to work with all the stakeholders involved in this project to reach an agreement, and deliver much-needed new homes for London. As well as being a hugely significant project for our company, Silvertown Way will be a flagship regeneration project for East London, and we are committed to providing high-quality housing of all tenures for the local community."
Galliford Try - Greg Fitzgerald, Chief Executive 01895 855001
Graham Prothero, Finance Director