Lend Lease will sell new homes in London directly to the general public for the first time, it said today.
The contractor and developer said it has secured a strong residential pipeline in the capital and plans to be delivering up to 1,000 new homes a year under its own brand by 2017.
Dan Labbad, Lend Lease’s chief executive in Europe, said: “There is an acute shortage of new homes in London and we believe that we have the capability to take advantage of a unique market opportunity.
“We will be building on our residential track record and those who buy homes from us will experience for themselves exactly why Lend Lease is one of the most trusted names globally in property and construction.”
The first new Lend Lease homes in London – situated at the Elephant & Castle regeneration in Zone One - are expected to go on sale early next year.
The developer submitted a detailed planning application earlier this summer for 284 units in the 37-storey St Mary’s tower.
In total, 2,800 homes will be built at Elephant and Castle over the course of the next decade.
Lend Lease also has 350 residential units at The International Quarter in Stratford, situated adjacent to the Olympic Park.
The company said it is also looking for new development opportunities in the capital.
Lend Lease said its core business model will be “to build long-term partnerships with major public and private sector landholders in order to deliver long-term regeneration projects in London”.