Peabody has confirmed plans to buy 45 acres at the former Ford Dagenham plant, as previously revealed by EG.
The housing association exchanged contracts last year in a £100m deal with Europa Capital and St Congar.
Peabody is currently working up plans for around 3,000 homes and aims to begin construction by March 2023, with completion in just five years. Development will include 1,550 affordable homes delivered with an £83.5m affordable housing grant from the Greater London Authority.
Brendan Sarsfield, chief executive at Peabody, said: “Like me, many people from the local community will have lived and breathed working at Ford Dagenham, through their own experience or through family and friends.
“The place is a really important part of the industrial and social history of Britain. Together we have a fantastic opportunity to bring the empty site back into use as part of the exciting new Dagenham Docks neighbourhood.”
Hugo Black, partner at Europa Capital, added: “Back in 2016 we recognised the massive potential of a site rare in its scale and steeped in history. Demand for land in London on which to build affordably-priced housing has outstripped supply for some time. Having undertaken a thorough remediation of the site, we have created land suitable for development of new homes.”
Sadiq Khan said: “Dagenham Docks is one of the most exciting areas of regeneration in London, with this former powerhouse of East End industry set to be comprehensively transformed over the next decade.”
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
