Greenwich redevelops

New developments are fast turning Greenwich Peninsula into a property hotspot
Nearly 1,000 new homes are to be built at Greenwich Reach, which sits dramatically on a curve of the Thames and has sweeping views of Canary Wharf and the City.

“Our vision is to create a new Butler's Wharf-style community of homes, upmarket bars and restaurants,” says Madeleine Flower, sales and marketing director of developer Galliard Homes, which acquired the site in July and has lost no time in announcing the launch of the first homes off-plan during the weekend of 29 and 30 September. Call
020 7620 1500 for more information.

The site was once earmarked for a cruise-liner terminal, but this plan has been shelved in favour of a mixed-use scheme with high-end residential, leisure and retail space. It comes at a time when neighbouring Deptford is getting a face-lift and when Greenwich Peninsula has been given a shot in the arm with the opening of the O2 arena.

Aerial view of Greenwich
The O2 arena, formerly the Dome, is part of the Greenwich Peninsula

Greenwich Peninsula

As well as being a high-profile entertainment complex, the O2 arena - formerly the Millennium Dome - will host events for the 2012 Olympics. By that time, Greenwich Peninsula will be well on its way to becoming one of London’s biggest new residential quarters: 10,000 homes, alongside schools and community facilities, 150 shops and restaurants, an ecology park and yacht club. Already plugged into the Jubilee line, the area will also be a business district employing up to 24,000 people.

Work on the first phase of 3,000 new homes will start later this year. Called Peninsula Quays, it is a joint venture between developers Quintain Estates and Lend Lease. Most of the housing will be high-rise and high-density - tower blocks, with an accent on public space rather than private gardens - to form a cluster of neighbourhoods, where pedestrians and cyclists have priority over cars. Bellway is building 229 apartments, to be released early next year. Prices are expected to start at £225,000. Call 01689 886400.

Greenwich Peninsula
After a decade of stop-start, Greenwich Peninsula now justifies its hotspot label
Such is the scale of the £5 billion project that development will continue for 15 years. The inevitable disruption will deter some buyers, and not everyone will want to live on the doorstep of a bright-lights leisure attraction. But after a decade of stop-start, Greenwich Peninsula now justifies its hotspot label.

Greenwich Wharf

In tandem with this change is transformation of the long-neglected riverside strip between the peninsula and Greenwich town centre. This mainly industrial land is regarded as the missing piece of the regeneration jigsaw. For years, the so-called Thames Path has been inaccessible because of disused wharves. However, a 12-acre waterfront housing scheme called Greenwich Wharf has been given the green light by planners. London & Regional Properties, the developer, will build 667 river-view homes, including town houses, plus a hotel, rowing club and play areas. Construction is to start this year. Call 020 7499 4060.

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