development within reach
East London’s Royal Docks is experiencing a major regeneration, with £314 million being pumped into developing the area. Riding the wave of that boost is a collection of new apartments at Pontoon Reach, E15, from property developer Redrow and one of London’s largest housing associations, Peabody.
Construction on the Royal Docks site began this week with a breaking ground ceremony on the vacant, former brownfield site in North Woolwich Road.
The companies’ first joint venture, the scheme will create 295 apartments – from studios to one, two and three-beds. Prices will start at £315,000. A third of them will be affordable housing, overseen by Peabody.
“Peabody aims to start around 2,500 new homes in the next 12 months and we’re pleased to be starting on-site at Royal Docks,” said director of sales and marketing Debbie Combs. “Working with Redrow, the Mayor Of London and the London Borough Of Newham, this important scheme will deliver nearly 200 much-needed new homes. Pontoon Reach will be a great addition to this exciting regeneration area.”
The £125m complex will be set around a landscaped communal garden and each apartment will have its own terrace or balcony.
Inside, underfloor heating will be installed throughout as well as integrated kitchens.
At five minutes’ walk from Pontoon Docks DLR station and with the promise of the nearby Crossrail station at Custom House due to open in 2019, the apartments should provide residents with excellent transport links to the City and Canary Wharf.
“We are excited to be starting work at our Royal Docks site,” said Redrow London managing director Mark Parker.
“The £314m regeneration which is taking place over the next five years has the potential to generate more than £5million in investment over the next two decades, and it’s fantastic to be a part of it.
“The joint venture with Peabody further highlights our commitment to delivering new homes for Londoners in key regeneration areas across the capital.”
Go to redrow.co.uk for more information or call 020 3811 6211.