London & Quadrant (L&Q) housing association has taken over Bellway Homes' role in the delivery of 11,000 new homes in east London.

The HA has purchased Bellway's 51% stake in a joint venture with the Greater London Authority (GLA) to drive the major regeneration programme at Barking Riverside.

The development will be built on the 179-hectare former Barking power station site.

Around 10,800 new homes will be built, including 65,000 sq m of commercial, retail and community facilities, one secondary and up to four primary schools, public squares and walkways, and major new highway infrastructure.

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In addition, L&Q will invest £70 million into a £263 million project to extend the London Overground Gospel Oak line from Barking to a new station at Barking Riverside.

New roads, bus routes and river taxi services will also be developed.

David Montague, Chief Executive of L&Q, said: "We're delighted to help lead one of the largest and most ambitious regeneration schemes in Europe. Barking Riverside will make an enormous contribution to support efforts to increase housing supply in the capital.

"We're setting out to quadruple the speed of delivery of new homes and that starts with investing in the critical transport infrastructure to connect Barking Riverside with the rest of the capital.

"The scheme is a significant step in delivering our promise to build a pipeline of 50,000 new homes in the next 10 years."

London Mayor Boris Johnson added: "This former power station site is now ripe and ready not only to deliver thousands of new much-needed new homes, but creating jobs and growth in a whole new bustling town in east London."

The site is among the 414 hectares of derelict brownfield sites the Mayor has promised to redevelop.

(LM/MH)