Peabody's regeneration of South Thamesmead has reached a major milestone, with a topping out ceremony held to celebrate the latest phase of the transformation.

The event marked the progress of Phase Two of Peabody's seven-phase masterplan, a joint venture with housebuilder Lovell, which will deliver 329 energy-efficient, mixed-tenure homes, 42% of which will be affordable, in a scenic lakeside setting. Designed by Karakusevic Carson Architects, this phase is expected to see its first homes completed by late 2025.

The ceremony took place atop a 16-storey tower at the southern tip of the development site, where Deputy Mayor of London for Housing and Residential Development, Tom Copley, and Leader of Bexley Council, Baroness Teresa O’Neill OBE, laid the final bricks.

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The construction site sits adjacent to the completed first phase of the development, which was delivered in 2022. That phase created 534 homes of mixed tenure, a new public square, a library with community facilities, and high-quality commercial space for shops, services, and cafés, establishing a civic heart for South Thamesmead.

As part of its social value commitment, Lovell has involved local apprentices in the Phase Two works, and continues to support the community through work experience placements, career guidance sessions and financial backing for local initiatives.

Peabody's long-term vision for South Thamesmead is part of the Abbey Wood and Thamesmead Housing Zone and aims to deliver 2,800 homes near Abbey Wood Station. This effort forms a key part of Peabody’s broader plan to improve, grow, and maintain Thamesmead for future generations.

Thamesmead, which spans a significant footprint in southeast London, has the potential to evolve into a thriving new town. Peabody’s plans include the creation of 5,000 homes across South and West Thamesmead, and an additional 15,000 homes at the Thamesmead Waterfront site in the north—one of the capital’s most promising regeneration areas.

Peabody is collaborating with Transport for London and other partners to develop a business case for extending the Docklands Light Railway (DLR) to north Thamesmead. The proposed extension, a priority for the Mayor of London, is seen as essential for unlocking the delivery of up to 30,000 new homes on both sides of the River Thames.