In a significant move for South London's housing landscape, Lewisham Council has provisionally agreed to sell a substantial parcel of vacant land in Deptford that has languished undeveloped for over a decade. The decision paves the way for a major regeneration project that could ultimately deliver approximately 550 new homes to the area.
Council Approves Land Sale to Legal & General
During a Cabinet meeting held on January 21, council members discussed and approved in principle the disposal of council-owned land situated south of Copperas Street, backing onto Deptford Creek. The proposed buyer is insurance giant Legal & General, who plans to collaborate with developer Galliard on a comprehensive Build to Rent scheme spanning both the council-owned plot and adjacent privately-owned land.
The ambitious development would see around 550 new homes constructed across the combined sites, with current estimates suggesting approximately 30% of these, measured by habitable room, would be designated as affordable housing. Crucially, all affordable units would be built specifically on the council-owned portion of the land and would be offered at social rent levels.
A Pragmatic Approach to Stalled Regeneration
Councillor James-J Walsh, Lewisham's Cabinet Member for Inclusive Regeneration and Planning, emphasised the necessity of the decision, stating: "The land at south of Copperas Street has been identified for regeneration for over a decade. Previous delivery routes fell away, planning permissions were never used and the site has remained empty, delivering no homes and no value to the community."
He further explained that inaction would merely perpetuate this failure. The current proposal enables a single, comprehensive development across the wider site, promising a substantial number of new homes in a highly accessible location. Cllr Walsh described the strategy as "a pragmatic, Labour approach to regeneration [which] unlocks stalled land, secures social rent homes, retains long-term public assets and ensures that the public shares future value."
Key Conditions and Community Benefits
The council has established several important conditions for the sale. The land will only be formally sold once full planning permission for the development has been secured. As part of the agreement, Lewisham Council would retain a 250-year lease on a new ground-floor commercial unit created within the development.
Additionally, the authority is set to receive £250,000 in construction-period income, with the potential for further financial benefits if the eventual planning permission proves more valuable than current projections. Councillor Amanda De Ryk welcomed the news, commenting: "I just want to say well done, that's really exciting news and to be able to deliver that many homes at social rent on our land is really, really exceptional work."
A Troubled History of Development Plans
The site, once occupied by a mixture of office and industrial buildings now demolished, has a complex history of stalled regeneration attempts. The council describes the area as "cleared and ready for redevelopment." Initial plans to sell the land emerged as far back as July 2015, when the council agreed to sell to developer Kitewood, contingent on them later obtaining planning permission.
In November 2020, Lewisham Council did grant planning consent for Kitewood and Galliard to construct 393 homes in towers reaching 26 and 30 storeys. This scheme also included a five-storey building with designated performance space for the neighbouring Trinity Laban music and dance college. However, these consented plans were never officially issued because Trinity Laban failed to sign the crucial joint Section 106 agreement, causing the entire project to collapse.
A New Joint Venture Emerges
The latest proposal represents a fresh start. Legal & General has emerged as the Build to Rent investor for the wider site, having agreed commercial terms with Galliard for their adjoining land. This new joint venture between L&G and Galliard does not include Trinity Laban's portion of land. Should the plans ultimately gain approval, all the promised affordable housing would be constructed entirely on the council-owned section of the development site.
This decision marks a potential turning point for a key South London location, aiming to transform years of vacancy and failed projects into a substantial contribution to the borough's housing supply, with a firm commitment to social rent homes.
