Plans have been submitted to regenerate South Thamesmead housing estate in London.

Peabody Housing Association plans to invest £500 million in the area and create 1,500 new homes along Harrow Manor Way.

Four planning applications have been put forward to the London Borough of Bexley.

These include a detailed proposal for Southmere Village, which includes more than 500 new homes, a new library, cafes and shops, a new lakeside square and space for outdoor activities.

In addition, three outline applications have been submitted for Binsey Walk, Coralline Walk and Sedgemere Road.

These include around 1,000 homes, landscaped areas, a central square, a public plaza, community gardens, cafes and a new pedestrian route.

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Office, community and creative spaces will also be developed to create a number of new jobs.

The plans form part of the London Borough of Bexley's Abbey Wood and South Thamesmead Housing.

This is one of two Housing Zones to be delivered in Thamesmead, the other is being led by the Royal Borough of Greenwich. Both will be developed by Peabody with £47.5 million investment from the Greater London Authority.

Stephen Howlett, Peabody's Chief Executive, said: "Thamesmead is a special part of London with huge potential for the future. The creation of 1,500 new homes and a new high street as part of the Abbey Wood and South Thamesmead Housing Zone, together with the arrival of Crossrail means we also have the opportunity to create hundreds of new jobs and attract new business.

"Peabody is committed to working with local residents to create the dynamic and thriving place where people aspire to live, work and visit."

Subject to planning permission, the first developments will begin in early 2017 with the final phase completing in 2024.

(LM)