Telford Homes wins east London redevelopment contract
Telford Homes has secured a contract with Workplace Group to progress the first of three phases in the redevelopment of east London's Poplar Business Park. In total, 392 new homes are to be constructed on the site, which is located 800 metres from Canary Wharf and just to the north of the new Crossrail station.The first phase of the project, which was secured by Telford Homes for £16.3 million, will consist of 120 open market homes, 50 affordable homes and 8,000 square feet of light industrial space.With a total residential gross development value in excess of £75 million, the first phase of the scheme will take Telford Homes' development pipeline to over £1 billion of future revenue for the first time in the group's history. Jon Di-Stefano, chief executive of Telford Homes, said: "We are delighted to partner with Workspace on this fantastic opportunity and to be able to bring more new homes to the London market at a time when they are desperately needed. He added that the company "is in an excellent position to deliver substantial growth over the next few years" as a result of the development pipeline milestone and the strong forward sold position.Jamie Hopkins, chief executive officer of Workspace, said the project would help to transform the local area by creating a thriving business and residential hub.Last month, Telford Homes announced the launch of its new Hackney Square development, which features one, two and three-bedroom homes situated around a landscaped courtyard. Designed to offer a dynamic modern living environment for residents, the scheme provides good access to local supermarkets and a range of other shops.Residents can also benefit from the close proximity of London Fields, allowing them to enjoy over thirty acres of open green spaces, tennis courts, tree-lined paths, flower meadows and cycle paths.The area also has good transport links, with London Fields station providing a fast, direct route straight into Liverpool Street in under ten minutes.
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