As the multi-million pound transformation of a derelict industrial site into new homes nears completion, some of the construction and property industry's biggest names gathered together to see the results.

One Housing Group's £30 million affordable housing development, which is being created by Wates Living Space on the site of an old warehouse on Stratford High Street was visited by, amongst others Mick Sweeney, Chief Executive of One Housing Group Jonny Wates, Wates Family Director and Paul Drechsler, Chairman & Chief Executive of construction company Wates Group to celebrate a traditional 'Topping Out' ceremony.

During the ceremony, which saw guests travel to the top of the new development to trowel the last concrete section of roof, One Housing Group’s Chief Executive Mick Sweeney announced £115m further investment in affordable homes in Newham.

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Once fully complete in December 2010, the development will provide 113 new homes, including 29 for affordable rent, 56 for private sale and 28 units available on a shared ownership basis. The development also features ground floor and basement commercial units and an underground car park. Residents will benefit from a range of community and environmental features including children’s play areas, grass roofs, eco-gardens and bird and bat nesting boxes to encourage wildlife in the area.

Lawrence Baxter Project Manager from Wates Living Space said: "Although the development isn’t finished yet, the difference from when we arrived on the site back in May 2008 is incredible.

"We're proud to show off the work we’ve been doing, not just in terms of bricks and mortar but in the work we’ve done with the local community, creating new green spaces or improving old ones and making Newham a better place to live in.

"We look forward to seeing the reaction from the public when the development is finally unveiled to the public this December."

(CD/GK)