Australia’s Lendlease and Starwood Capital Group have partnered to buy a major urban regeneration site in London’s East End.
It will acquire the Silvertown project, a former industrial area located between Canary Wharf and London City Airport, from its existing shareholders First Base, Chelsfield Properties and Macquarie Capital on a 50 percent co-investment basis.
Lendlease will work as development manager and construction manager for the Silvertown Quays project.
With an estimated development value of £3.5 billion ($4.7 billion), the project has approval for 7 million square feet of residential and commercial use, including 3,000 homes and the restoration of the historic Millennium Mills and the listed Silo-D.
