A major development in Deptford that goes by the name Deptford Landings after numerous rebranding efforts has halted with barely a quarter of homes built. Lendlease are behind the project for an eventual 1,132 homes where a three bed flat costs £711,000.
Now swaths of land lie empty despite a housing crises as developers struggle to sell highly priced flats . Failure to sell predates the pandemic. It appears prices are simply too high. Numerous government intervention and props, apparently designed to help, instead push prices beyond the reach of many people who live and work in London. Transport links aren’t the best. The developer states “as well as being no more than a 30 minute walk to the nearest train, tube, or ship”. That length of walk isn’t a selling point!
It’s yet another plot where developers insisted action needed to be taken by authorities to speed up building. Action was taken – in this case Compulsory Purchase Order by Lewisham Council on a parcel of land to the west – and then no homes have been built. I covered the use of CPOs over three and a half years ago.
The same happened down the road at Convoys Wharf. Boris Johnson called in the project when mayor as a decision was “urgent”. Six years on and no new homes have yet begun on site.
At Deptford Landing pavements are fenced off despite no building work being undertaken for some time.
The promotional material on the development’s website contains some curious claims. Click on transport and it states:
“£80 MILLION TRANSPORT UPGRADE. The already bustling Deptford High Street will be enhanced and refurbished for a great London shopping experience.”
Perhaps they mean the years old work on the High Street which is now pretty tatty and certainly never cost £80 million? This is misleading at best.
Lendlease are behind the development. They have recently partnered with Peabody in Thamesmead. A Peabody site at the former Tavy Bridge has the developer attempting to sell flats for a minimum of £537,300. They previously attempted to portray a Thamesmead development site opposite Belmarsh as being near Greenwich Park.