Bidding opens for US$ 465 million Lambeth estate renewal

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The London Borough of Lambeth has sought a development partner to bring forward the renewal of the Westbury Estate, worth GBP 370 million (US$465 million) located on Wandsworth Road, Clapham, SW8 3LG in the northwest of the borough, on the boundary with the London Borough of Wandsworth at Heathbrook Park, UK.

The Development Partner will oversee revising the master plan, obtaining planning permission, financing construction, and managing the marketing and sale of residential properties and commercial units, as well as covering associated development costs. This role could be fulfilled by a Registered Provider acting as a developer, taking charge of the project's design, execution, and funding. Alternatively, it may involve a consortium where a Development Partner leads the design, delivery, and funding in collaboration with a Registered Provider.

The nearly two-year contract involves the development partner revising the master plan and securing planning approval for the Clapham estate. An initial master plan, approved in 2018, outlined a comprehensive redevelopment plan for 270 new homes. Phase one was completed in 2021, delivering 64 affordable homes for residents at social rent. Lambeth will retain full nomination rights for the social rent homes at completion. The council requires a minimum provision of 35% affordable housing and other requirements such as a net zero-carbon development. Suppliers have until December 23, 2024, to show their interest.

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