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Mon May 20 2024

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Muse hands £250m Lewisham build to Balfour Beatty

14 Jul 20 Muse, Morgan Sindall’s urban regeneration division, has agreed a £252m forward funding deal with a private residential sector (PRS) landlord to build the second and final phase of its Lewisham Gateway scheme.

Lewisham Gateway
Lewisham Gateway

Once complete, Lewisham Gateway will be operated by Get Living, a real estate investment trust backed by Delancey and Qatari Diar.

The development will have 649 flats for rent, 25,000 sq ft of retail space, 15,000 sq ft of food and beverage space, a gym, 10,000 sq ft of offices and a multiplex cinema (Lewisham’s first).

Balfour Beatty has been appointed as the main contractor of the scheme, under a £197m contract, and is set to begin works imminently. Completion is anticipated in 2023.

In addition to delivering the main construction works, Balfour Beatty Kilpatrick will deliver the infrastructure’s mechanical and electrical (M&E) works, while Balfour Beatty Ground Engineering will carry out the piling works.

Balfour Beatty said that it would use modular construction methods throughout, including the installation of prefabricated bathroom pods.

At construction peak, the scheme is expected to employ 500 people.

The wider development is a joint project between Muse with the London Borough of Lewisham, the mayor of London and Transport for London, supported by Homes England. 

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Lewisham Gateway has already delivered 362 new homes, alongside new shops and restaurants, and a public park, plus local highway improvements.

Morgan Sindall Group chief executive John Morgan said: "This deal reinforces our regeneration strategy and is testament to our expertise in this area. We look forward to working in partnership with Get Living to deliver a transformational scheme to the local community."

Muse regional director Mike Auger said: “The deal with Get Living plc is a proud moment for everyone involved with Lewisham Gateway, as it highlights investor confidence in our long-term vision – despite the unprecedented situation we all find ourselves in – to deliver a truly transformational scheme that will drive economic and social prosperity in the heart of Lewisham when it’s needed most."

Get Living chief executive Rick de Blaby said: “We are excited to be playing a key role in the next phase of Lewisham Gateway; delivering new homes for rent, alongside retail, co-working and public space for residents and the wider local community. This is Get Living’s third London neighbourhood and sixth nationally and we are committed to delivering real social value for local people. In these challenging times, we believe that build-to-rent is proving to be one of the most resilient real estate sectors, thanks in large part to its customer-first culture and its commitment to supporting community.

“We now have a responsibility to ensure this second phase forms an integral part of Lewisham’s town centre as it continues to evolve. Backed by our long-term investors, we are committed to ensuring Lewisham Gateway is a safe and vibrant new place to live and visit, while also helping to address London’s housing challenge.”

Graham Hill, managing director of Balfour Beatty’s UK Construction Services business in London, added: “Our selection for the Lewisham Gateway Phase Two development is testament to Balfour Beatty’s ability to deliver key regeneration projects in London and we look forward to making a significant contribution to the regeneration of Lewisham Gateway, leaving a lasting-legacy for years to come."

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