Housing association snaps up two London sites for £31m

Southern Housing Group has bought two sites in east London for £31m that will see it provide at least 400 homes for affordable rent, shared ownership and private sale.

The acquisition of the Calor Gas and Ideal Furniture sites in Bromley-by-Bow form the third phase of the housing association’s Bow River Village development, which is close to the A12 and is bounded to the east by the River Lea.

Following the purchase, a new planning application will be submitted to the London Legacy Corporation.

Phase 1 delivered 219 homes and 100,000ft2 of commercial space in 2016 while Phase 2, which is set to complete next year, will bring a further 112 homes for affordable rent, shared ownership and private tenures.

Southern Housing Group is headquartered on the Isle of Wight and manages 30,000 homes for 67,000 people across London and south east England, in areas such as Brighton and Hove, Greenwich, Hackney, Islington, Portsmouth, Reading and Tower Hamlets.