UK: Amro Partners has acquired Lewisham Retail Park in south-east London, and develop a major residential-led scheme on the site.
With an estimated GDV in the region of £400 million, the project will deliver around 1,000 new homes, forming one of the final major pieces of the 20-year Lewisham regeneration plan.
Over the last 18 months, Amro has acquired various adjoining land holdings from a number of private landowners, concluding with the acquisition of the Lewisham Retail Park site and remaining land holdings from Legal & General.
The company says: “We now have the opportunity to undertake a comprehensive redevelopment of the island site and contribute to the regeneration of Lewisham with a scheme that provides much-needed high quality housing, promotes connectivity with the train station, town centre, and central London, and significantly enhances public realm through the creation of new green spaces, cycle paths and permanent community spaces. Flexible commercial space on the ground floor will support local SMEs and independent businesses.”
Amro will work with the London Borough of Lewisham to secure permission for “an ESG leading development with the highest possible sustainability ratings, including BREEAM Outstanding, Fitwel 3*, WiredScore Platinum and ActiveScore Platinum”. The scheme is scheduled to launch with phased openings during 2028/29.
Amro Partners chairman and CEO Raj Kotecha said: “This acquisition is the culmination of two years’ hard work piecing together this incredibly complex site. It’s an honour to play a part in the regeneration of this bright and thriving neighbourhood, with a site that has such vast potential. We look forward to working with the council and the people of Lewisham to bring forward a landmark development that sets a new bar for placemaking, sustainability and brings long-term value to the local community.”
CBRE head of London residential land Adam Cradick, who advised Legal & General on the sale, said: “Amro has the ability to deliver an exceptional development with outstanding placemaking, and much-needed housing. This transaction is another example of the current positive sentiment within the London residential land market, and the demand we are seeing for best-in-class sites.”
