Danescroft Land receive resolution to grant 491 units at landmark Bromley by Bow regeneration scheme

In one of the most significant regeneration schemes to come forward since the Olympics, Danescroft Land have successfully gained a resolution to grant for a residential-led mixed-use development in East London.

The Danescroft Land scheme, backed by Palmer Capital, will create 491 new homes designed specifically for the ‘Build to Rent’ sector. Residents will benefit from a range of shared amenity spaces, such as spacious roof top gardens and terraces with panoramic views of London and the Olympic Park, an in-house gym and residents’ lounge.

The site was acquired between June and August 2014 for £13m and comprises two adjoining sites, Access House and Clock House totalling 2.4 acres.

It sits within a prominent position with direct access to Bromley-by-Bow tube station and will benefit from a new all-movements junction on the A12, which the scheme is part funding S.106 contributions. The site forms part of the LLDC’s overall masterplan for Bromley-by-Bow South, which includes thousands of new homes as well as new commercial space.

The project includes two 10-storey and one 9-storey buildings with two taller buildings of 17-storeys and 27-storeys. The entire site will be completely revitalised with a mixture of workspace, community infrastructure and retail space . The site will be designed to create a thriving community with cutting edge contemporary design, delivering a vibrant place where the people wish to live, work and socialise. One of the key components of the site will be the new Urban Square, which will form the central hub of the overall scheme. The new development will bring a wealth of new occupiers, new tenants and new investment to the area.

GL Hearn and Assael have led the creation of the detailed planning application. Assael has collaborated closely with the adjacent land owners and their design teams to realise the vision of the SPD masterplan.

Dominic Fryer, Development Director at Danescroft Land commented,

“Bromley-by-Bow is an area undergoing rapid change, so it was important for us to maintain a strong sense of community while delivering a significant number of high quality new homes in a well-connected central location. Offering a generous range facilities and spaces for both the residents and the wider public, we are delighted this has gained consent and look forward to continuing the vision around the Olympic legacy.”

Chris Button, Head of Value Add REIM at Palmer Capital commented,

“We are extremely pleased with the planning progress and are excited to be playing a leading role in funding this urban regeneration. The site plays to our investment themes of urban sites with good connectivity and exhibiting demographic and economic growth. We have over £300m to invest in similar schemes in 2018. ”

Author: Alex Peace