Peabody hands out £60m contract for Plaistow and Bow developments
PUBLISHED: 07:00 14 September 2013
Contracts for two new housing projects in east London worth a combined £60million have been handed out by the Peabody charitable housing trust.
The schemes, in Bow and Plaistow, will see a total of 420 new homes built by construction group Galliford Try.
The firm’s chief executive, Greg Fitzgerald, said: “We are delighted to have once again demonstrated the strength of our offering in London as an affordable housing contractor.
“We look forward to working with Peabody to realise their vision for these two major schemes in east London.”
The £35.4m Bow development, in Devon’s Road, will include 259 homes – 131 of which will be designated as “affordable housing”.
It is the first stage of a four phase development, which will also include 1585sq metres of commercial space and landscaping.
The second scheme will bring 164 new homes to the former Plaistow Hospital site in Newham in a £24.9m project. The award-nominated design includes the restoration of the historic hospital buildings.
Peabody’s development manager, Craig Horn, said: “‘We are pleased to announce the signing of these two major contracts which between them will deliver 427 much needed new homes for Londoners, and contribute to the continuing regeneration of Bow and Plaistow.”