As part of our Budget blog post series, Ian McDermott of Peabody outlines how extending the Docklands Light Railway can support the Government’s growth and housebuilding missions
Few places in the capital embody untapped potential like Thamesmead. Roughly the same size as central London but with a population of just 47,000 – the town offers one of the most exciting and deliverable opportunities for housing and economic growth in the UK.
As the Chancellor prepares the Autumn Budget, there is no better time for the government to back plans for a new town in Thamesmead – one of the 12 potential sites endorsed by the New Towns Taskforce this September.
As owners two-thirds of the land since 2014, Peabody is leading a comprehensive regeneration of Thamesmead. Our mission is to improve, grow and look after it for the long term. We’re working to build 20,000 new homes in thriving, sustainable neighbourhoods by 2050.
We’re investing in buildings (existing and new), outdoor spaces, culture and communities – working with partners and local people along the way. As long-term stewards of this remarkable place, we’re already making a significant impact. And there is plenty more for us to look forward to.
Realising our plans for the Thamesmead Waterfront is critical to Thamesmead’s ongoing success. This 100-hectare site on the southern bank of the River Thames has scope for 15,000 homes; thousands of jobs; a wealth of commercial, leisure and cultural opportunities; and outstanding natural spaces. Providing a gateway to the Thames Estuary – the UK’s number one growth opportunity – the site is a prime location for much needed housing in the UK.
This nationally significant opportunity can only be realised with improved public transport links. North and central parts of the town have some of the lowest transport accessibility levels in London. The SE28 postcode, where the Waterfront site is based (and where 30,000 people live), is the only one in the capital without a train or tube station.
This has held Thamesmead back, but there is now a huge opportunity to press ahead with the extension of the Docklands Light Railway (DLR) to the town. The proposals are cost effective, sustainable and would provide a £15bn boost to the economy through housing, jobs and a new town centre for Thamesmead.
Proposals for the DLR extension have overwhelming support locally, as well as backing from the Royal Borough of Greenwich, who recognise the transformational impact of the Waterfront. Securing the new link is the Mayor of London’s number one transport priority. The benefits extend beyond Thamesmead. This new transport route, which will also have a stop in Beckton, can catalyse the delivery of a further 10,000 homes across the river in Newham.
Backing a well-connected new town in Thamesmead, with all it has to offer, in this budget is a great opportunity for the Chancellor to secure housing starts in London and stimulate economic growth for the country quickly. Indeed, with government support for the DLR, work on the Thamesmead Waterfront could begin before the end of this Parliament. This would make a sizeable contribution to the government’s ambitious national housing targets and unlock the full potential of this extraordinary town.