Mixed-use developer Galliard Homes has acquired the 13.8-acre Morden Wharf site in London’s Royal Borough of Greenwich to develop around 1,500 homes, in a joint venture with City Developments Limited (CDL), Property Week can reveal.
The JV acquired the site for an undisclosed sum from regeneration specialist LandsecU+I and the Morden College charity.
The project, which secured hybrid planning permission in September 2022, comprises 12 residential blocks of up to 36 storeys, plus around 186,000 sq ft of commercial floorspace able to accommodate logistics, industrial and flexible workspaces.
The development will also include 50,000 sq ft of retail, restaurant, community and convenience spaces.
When the London Borough of Greenwich planning committee first resolved to grant permission in September 2021, to Morden College and the then U+I (just prior to its £190m acquisition by Landsec), the pair said the scheme had a gross development value of £770m.
The scheme, for which construction dates have not yet been confirmed, will feature a 275m riverside frontage, along with a 3.9-acre riverside park.
Galliard Homes executive chairman Stephen Conway said: “CDL’s worldwide reputation as an industry leader, marked by its commitment to delivering first-class developments across numerous asset classes, aligns with our values.
“We hope this will be the first of many more future projects together.”
LandsecU+I chief executive Mike Hood added: “We’re proud of the transformational masterplan at Morden Wharf, in collaboration with Morden College, to create a new Greenwich quarter with homes, jobs and a Thameside park.
“Following the receipt of planning consent last year, our focus has been to raise vital funds for the charity’s work across the borough. We intended to find a specialist partner to begin to deliver the consented scheme, and through Galliard Homes, we have done that.
”We will continue our strategy to invest in our mixed-use, urban regeneration pipeline over the next five years to realise our ambitions.”
Meryl Davies, chief executive of Morden College Charity, said: “Morden College is pleased that the sale of Morden Wharf will regenerate another area of south-east London, expanding the community that lives to the east of Greenwich town centre.
“Our founder, Sir John Morden, bequeathed the land to the charity over 300 years ago so that Morden College would be able to care for and support older people who are in need in perpetuity. This sale enables us to continue to work towards that goal.”
CBRE residential land team and Gerald Eve acted on the transaction for the vendor.
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