Specialist London contractor and developer United House and private equity firm JER Partners have combined forces in a joint venture to deliver the landmark Paynes & Borthwick Wharves site in West Greenwich, London.

The £120 million riverside development will provide 257 high specification one, two and three bedroom apartments and 10 live/work units in a landscaped setting with views towards Canary Wharf, Greenwich and the City. The mixed-use regeneration scheme will also feature 38,000 sq ft of art gallery, restaurant, commercial and retail space and a total of 150 underground parking spaces.

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Paynes & Borthwick will comprise 203 residential units for private sale and 44 affordable homes which will be managed by Hexagon Housing Association. The development will include a new residential tower rising to 16 storeys and the sympathetic conversion and sensitive restoration of the existing warehouse buildings which will retain their original facades.

The master plan for the project has been agreed by the Boroughs of Lewisham and Greenwich to advance the regeneration of this area of London, which has been designated a Creative Enterprise Zone by the Government.

United House is due to start work on site imminently, with the first residential units due to be delivered by June 2013. Delivery for the whole project is expected for autumn 2013.

(CD)