Peabody is on track to deliver almost 330 new homes in Lewisham, after getting approval for a major new regeneration scheme.

Frankham Street in Deptford is a joint venture with Mullaley and Sherrygreen Homes, and will provide 209 new homes, including 74 affordable rent, 25 shared ownership and 110 for private for sale.

Designed by Pollard Thomas Edwards Architects, the scheme will involve the restoration and conversion of the Victorian former Tidemill School Buildings, along with new build blocks and a range of public and private amenity spaces, including a central green square. Existing residents living on Reginald Road will be rehoused in the first phase of the new development, enabling them to stay in the neighbourhood.

This approval will also allow the sister site at Amersham Vale in New Cross to come forward to deliver 120 new homes, after planning permission was granted by Lewisham Council last year. This means a total of 329 new homes will be provided over the two sites, with work due to start in Spring 2018.

Angela Wood, Director of New Business (Regeneration & Partnerships) at Peabody, said:

This scheme will provide almost 50% affordable housing, high quality public realm and sensitively restored school buildings, whilst keeping the character and traditional feel of the surrounding neighbourhood. We are pleased to be working with Mullaley and Sherrygreen Homes to make a significant contribution to the social and physical regeneration of these areas, by creating a vibrant and mixed community.