South East London, Greenwich to be exact, has been going through numerous exciting redevelopment works recently. The latest development project taking place in the area is The Peninsula Place, a £1bn building topped with a crown-shaped glass tower inspired by 19th century designs of Isambard Kingdom Brunel. The landmark building will feature an 80ft-high glass arcade with a winter garden atrium.
The development will be located on the top of North Greenwich underground station, just moments away from London’s O2 Arena. However the tube will not be the only transport option near The Peninsula: North Greenwich bus station will also undergo reconstruction and a footbridge will be built to connect it to the South Bank. Next to being the area’s newest design masterpiece, the 1.4m sqft development will offer a variety of opportunities including 200 residential properties and commercial spots for offices, shops, restaurants and even a performance venue and a hotel.
The Peninsula redevelopment will be undertaken by Knight Dragon and it is declared to be the biggest development project that is carried out by one single developer in the UK. Peninsula Place forms part of an £8.4bn revamp of 150 acres of former industrial land and gasworks around the O2, opposite the financial district of Canary Wharf. The development is expected to be completed by 2032. The Peninsula will be designed by world-renowned Spanish architect Santiago Calatrava, winner of European Prize for Architecture and the creator behind great designs such as Athens Olympic Sports Complex and Serreria Bridge in Valencia.
Thorpe, a Greenwich councillor, has stated “We are particularly proud that, at a time of critical housing shortage, this development will deliver so many affordable homes, of which more than two-thirds will be for social rent, at no more than 50% of market rent.” If you are interested in buying or renting a property in Greenwich, contact our South East London estate agents team now and learn more about how Madison Brook can help you. Alternatively, check our properties available to buy in Greenwich here.