We advised L&Q New Homes on the acquisition of a 51% interest, from Bellway Homes, in a joint venture to develop the 179 hectare former Barking power station.
The development will create a new town the size of Windsor. It will also deliver some 11,000 new homes. It includes 65,000 metres of commercial retail and community facilities. There will be one secondary and up to four primary schools and major new highway infrastructure.
As part of this development, there is a £263,000,000 project to extend the London Overground Gospel Oak line from Barking to a new station at Barking Riverside.
The Times described the transaction as “…one of the sector’s few truly large scale new-build projects”.
The Devonshires team was led by Andrew Crawford.