Knight Dragon, the developer behind Greenwich Peninsula, Europe’s largest single regeneration project, has signed a framework agreement with Mace which will see the contractor deliver 21 plots of the Greenwich Peninsula masterplan over the next decade.
As part of the framework, Knight Dragon will work with Mace to deliver 19.05, a development of ‘private for sale’ apartments comprising a mix of studio, one bed, two bed and three bed apartments in the latest development of the Lower Riverside neighbourhood.
At 19.05, Mace will deliver 431 homes on a 1.4-acre site at Greenwich Peninsula in southeast London. The project will be delivered by Mace’s ‘Mace Tech’ business unit, adopting a hybrid construction methodology using the latest in ‘construction to production’ technology to shrink the programme, increase certainty and quality of delivery, and reduce carbon emissions.
The beginning of work on 19.05 marks the next stage of Knight Dragon’s landmark transformation of the area. The developer received consent on a revised outline masterplan for the area in 2020, which will see it deliver more than 17,000 homes and 48 acres of public green space over the next two decades; creating a new destination neighbourhood for London.
The broader framework agreement between Mace and Knight Dragon – thought to be the largest of its kind in London – will see the two companies work together on the delivery of plots 19.04, 19.03, 19.02, 19.01 and Meridian Quays. In total it covers 21 individual projects of the Greenwich Peninsula masterplan and will see the two firms work together to deliver at least £2bn of construction work over the next 10 years.
The framework agreement builds on Knight Dragon and Mace’s successful work together over the last six years delivering both Upper and Lower Riverside; two elements of the masterplan which include five residential towers. Mace also delivered the first stage of ‘The Tide’, London’s first-ever elevated riverside linear park.
Richard Margree, CEO, Knight Dragon Developments, said: “I am delighted we are working with Mace again. Their determined desire to be better and do better matches our own. The scale of our joint proposals and this 10-year framework demonstrates an ambitious and brave partnership. We are confident we can deliver together by being long term in our thinking.”
Gareth Lewis, Mace’s CEO for Construction, said: “This is a huge moment for Mace – we’re honoured to be offered the chance to play such a key role in a development that will reshape London, creating an incredible new destination neighbourhood for the city. We’re looking forward to continue working with Knight Dragon on 19.05 – a fantastic next step for the masterplan – and the project will act as the foundation stone for our long-term partnership over the next decade as it progresses to ‘Project Zero’.”
