Parties involved in the deal
Organisation | Function | Role in project |
Public Sector participants |
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Department with overall responsibility for housing and urban regeneration policy. | EP sponsorship team: oversight of EP's management of a portfolio of regeneration developments including the Greenwich Peninsula. Thames Gateway Executive: as the Peninsula lies within the Thames Gateway, and housing on the Peninsula counts towards its targets, there is information sharing and collaboration with EP on the implementation of the regeneration development. | |
Government's national regeneration agency which supports sustainable growth in England. Will be incorporated within new organization "Homes and communities Agency" from 2009. | Principal land owner on the Greenwich Peninsula. Responsible for working with the private sector to achieve effective regeneration of the Greenwich Peninsula and deliver expected financial returns to the public sector. | |
Private Sector Participants |
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Joint venture consortium comprising: Lend Lease Europe Holdings Ltd. (the European subsidiary of an Australian residential property group) Quintain Estates and Development plc (FTSE top 250 company) | Quintain own some plots of land on the Greenwich Peninsula which are to be developed as part of the project. Responsible for delivering the Greenwich Peninsula development. | |
AEG Europe
| The European subsidiary of a privately-owned US company. A leading global provider of entertainment and sports events. | Responsible for the development of The O2 Arena and Waterfront area (previously the millennium Dome site). |
The Greenwich Peninsula is located within the Thames Gateway |
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5 The Greenwich Peninsula was once a large gasworks site. EP undertook large amounts of decontamination and remediation work and invested in provision of facilities, transport links and infrastructure prior to signing the deal. EP's total investment on the Peninsula between 1997 and 2004 was £225 million.
6 EP has existing development projects on the Peninsula. There is already an established community of over 1,500 residents at the southern end of the Peninsula - the Greenwich Millennium Village, as well as social infrastructure such as a primary school and health centre. Several large retail stores are located at the southern base of the Peninsula. EP has also developed open space and park land including an ecology park.
7 North Greenwich underground station is co-located with North Greenwich bus station, a hub for bus services in the south east of London. A Thames Clipper boat service now runs a regular, high speed commuter service to and from the Peninsula to central and east London.