Lendlease and Starwood acquire Silvertown Partnership

Construction group Lendlease and private investment firm Starwood Capital have announced plans to acquire The Silvertown Partnership, which holds rights to the Silvertown Quays, a major development project between Canary Wharf and London City Airport in London’s east end. With an estimated development value of £3.5bn, the project has approval for 7m sq ft of residential and commercial use, including 3,000 homes. The joint venture partners are now in talks with the Greater London Authority and Newham Council to develop detailed plans for the site; Property Week speculates that, given Mayor Sadiq Khan’s vision to make 50% of all housing in the capital affordable, it could be opened up to a greater number of residential units.

City AM (11/06/2018)   The Times (11/06/2018)   Property Week (14/06/2018)