Bellway shares in £5bn contract
North housebuilder Bellway has clinched a deal to work on a massive £5bn regeneration scheme in London.
The Newcastle company has been picked by property group Quintain Estates and Development's joint venture as the first residential housebuilder on the Greenwich Peninsula project.
Under the deal, Bellway will build 229 apartments in the first residential phase of the £5bn development of 80 hectares of Greenwich Peninsula in south-east London.
The value of the contract has not been disclosed, but is reported to be around £30m.
Meridian Delta Ltd, a joint venture between Quintain and Land Lease, is leading the project, which is the largest single regeneration scheme in London.
Once complete, the development will consist of more than 10,000 homes as well as a sports arena, hotel, 340,000 sq m of commercial space and 33,000 sq m of stores.
"We are delighted to be working with Bellway, one of the UK's leading house builders, on building the first riverside apartments," Quintain deputy chief executive officer Nick Shattock said.
Last month, Bellway announced it had built a record number of new homes for the 15th year in a row.
In a pre-close statement, the company said it had sold 7,117 homes in the 12 months to July 31, up from 7,001 in 2005, and at an average selling price of around £167,000.
