National Grid and Berkeley have announced a new Joint Venture (JV) to develop residential schemes across London and the South East.

The partnership, to be named St William Homes LLP, brings together access to a portfolio of brownfield land owned by National Grid Property in areas of housing need.

National Grid has over 20 sites in London and the South East with the potential to provide over 14,000 homes over the next 10 to 15 years. In its first phase, St William aims to develop more than 7,000 new homes, including over 2,000 affordable homes. Development would also deliver 5,500 jobs, two new schools and 22 acres of public open space, transforming 84 acres of former industrial land and contributing over £150m to local infrastructure and amenities.

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Rob Perrins, Managing Director of Berkeley Group, said: "This is good news for homebuilding. St William will take these sites and turn them into new communities. I am delighted to be working with a partner like National Grid which shares our values and has such a strong pipeline of land and assets."

(CD/JP)