Land in Greenwich beside the Blackwall tunnel approach road has seen a few more details emerge of a proposed development of 361 homes and 350 student beds.
Now a scoping opinion submitted to Greenwich Council fleshes out the bones of what could be coming, with 350 student rooms being one of the biggest bits of information to emerge.
That 350 student rooms raises eyebrows. It’s the latest of three student proposals in Greenwich revealed in recent months and comes hot on the heels of Greenwich Council seeking to review amounts developers pay the authority for improved services and infrastructure. Greenwich have long lagged most London authorities for revenue from developments within their boundary, and in some cases trailed by tens of millions a year.
But as covered last week, even now Greenwich are not seeking to increase student accommodation rates despite levels being substantially quite a few similar London boroughs including those just north in Newham and Tower Hamlets.
This again risks the borough losing out on millions in funding after making such a mess of CIL revenue since 2015.
Greenwich have a rate of £89.09 per square metre for student accommodation regardless of location in place since 2015. They plan no change now whether a hypothetical proposal is in the middle of Thamesmead or Greenwich near a tube station with quick access to numerous London universities. The council have not proposed differing levels as seen in some boroughs.
While Greenwich seem content with £80.09 per square metre, Newham have a rate of £189 per square metre with it being £447.31 per square metre in Tower Hamlets. Haringey is £265 per square metre while Lambeth is £400 per square metre.
Some do have lower levels but that is usually boroughs that have never revised rates or have higher residential rates to compensate. Greenwich seem to seek the worst of all worlds – and so unless they revise rates in areas of high demand, much potential income could be lost to mitigate central government cuts much as it has been over the past decade.
And we know this area is crying out for better infrastructure, with streets either side of the A102 in a sorry state.
Are Greenwich set to squander the chance once again for revenue to improve it?
The full details of what Fairview propose are “361 residential units (Use Class C2), 350 students accommodation units, 300sqm nursery space, 502 sqm of commercial floorspace, 10,000sqm self-storage space and 400sqm of light industrial use.”
Self storage could be interesting. Possibly the sale of dedicated unit nearby for a mixed use development along the lines of this site?
We’ll find out when consultation and then a full application is submitted.