L&Q is set to invest £27m in the first phase of a major residential regeneration project in Purfleet on the Thames Estuary in Thurrock.
L&Q will become a partner of Purfleet Centre Regeneration Limited (PCRL which has been established to deliver a mixed-used development of approximately 2,500 homes on brownfield land in Purfleet.
Jerome Geoghegan, Group Director of Development and Sales at L&Q, said: "This is an exciting opportunity to be part of a major brownfield regeneration project that will create thousands of new homes accessible to a range of buyers and renters. We are delighted to have found Thurrock Council so supportive as commercial partners, this project will create major long-term social and economic benefits for the area."
The nine-phase master plan includes major enhancements to the surrounding landscape, with a new school, health centre and remodelled railway station. It will also see the regeneration of Purfleet's town centre, providing shops and local leisure amenities such as a marina and oyster bar on the redeveloped waterfront. The centrepiece of the regeneration will be a new 600,000 sq ft media village.
Ken Dytor, managing director of Urban Catalyst and joint founder of PCRL said: "Our number one focus is on creating a genuinely accessible and life-changing scheme, providing affordable homes for families and a mix of uses in a true sustainable environment. We have made connectivity and sustainability at the heart of our plans, and L&Q's input and experience will be crucial to delivering Purfleet's regeneration."
The scheme received cross-party approval by Thurrock Council in 2015. PCRL will now be going out for further local consultation on the master plan over the next six months.