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Amro Acquires Lewisham Retail Park for £400m Residential Development

Amro Acquires Lewisham Retail Park for £400m Residential Development

Amro Partners has announced the acquisition of Lewisham Retail Park in Southeast London, marking the start of their largest and most ambitious project to date. The company plans to transform the site into a landmark residential-led development with an estimated gross development value (GDV) of £400 million.

The new development will deliver approximately 1,000 residential homes, becoming one of the final major pieces of the 20-year Lewisham regeneration plan. Over the past 18 months, Amro has acquired various adjoining land holdings from private landowners, culminating in the acquisition of the retail park site and remaining land from Legal & General.

This comprehensive redevelopment aims to significantly contribute to the regeneration of Lewisham by providing high-quality housing and improving connectivity with the train station, town centre, and central London. The project will also enhance the public realm with new green spaces, cycle paths, and permanent community spaces. The ground floor will feature flexible commercial space to support local SMEs and independent businesses.

Amro is committed to working closely with the London Borough of Lewisham to secure permission for an ESG-leading development with the highest possible sustainability ratings, including BREEAM Outstanding, Fitwel 3*, WiredScore Platinum, and ActiveScore Platinum.

Located adjacent to Lewisham Train Station, with a connectivity rating of PTAL 6b, the development offers excellent transport links: 9 minutes to London Bridge, 20 minutes to Bond Street, and 31 minutes to London Liverpool Street. The project is scheduled to launch with phased openings during 2028/29, meeting strong local demand for a variety of residential uses.

Raj Kotecha, Chairman and CEO of Amro Partners, commented: “This acquisition is the culmination of two years’ hard work piecing together this incredibly complex site. It’s an honour to play a part in the regeneration of this bright and thriving neighbourhood, with a site that has such vast potential. We look forward to working with the council and the people of Lewisham to bring forward a landmark development that sets a new bar for placemaking, sustainability, and brings long-term value to the local community.”

Adam Cradick, Head of London Residential Land at CBRE, who advised Legal & General on the sale, added: “Amro has the ability to deliver an exceptional development with outstanding placemaking and much-needed housing. This transaction is another example of the current positive sentiment within the London residential land market and the demand we are seeing for best-in-class sites.”

Amro currently has over 2,500 residential homes under development across Greater London, including projects in Ealing, Kingston, Sutton, and Croydon. Guided by its NZC2025 pledge, it aims to create the most sustainable living portfolio in Europe, with every new project targeting a full suite of sector-leading ESG credentials.

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BDC 317 : Jun 2024