Newsteer advises the Royal Borough of Greenwich, St. Modwen and Notting Hill Housing on land assembly and compulsory purchase for Woolwich ExchangeNewsteer advises the Royal Borough of Greenwich and Notting Hill Genesis on land assembly and compulsory purchase for Woolwich Exchange. The town centre scheme includes more than 700 homes, a multi screen cinema, retail and community space, requiring assembly of over 175 land interests.. The town centre scheme includes more than 700 homes, a multi screen cinema, retail and community space, requiring assembly of over 175 land interests.
The client’s challenge
The project stalled due to market conditions following the COVID-19 pandemic and incorporaiton of the Building Safety Act. The client needed a clear route through to a viable scheme that could accommodate the developement’s significant land assembly costs.
Our solution
Newsteer brought together CPO & Compensation and Regeneration expertise to advise on a revised acqusition and funding strategy, securing significant grant funding from the GLA. Newsteer advised on what changes to the consented scheme were required to make it viable, promoted a planning brief with the Local Planning Authority and supported NHG in attracting a new developer to the scheme.
Beyond advice: how we added value
Newsteer rescued an unviable scheme that could not deliver 800 homes and supported major public sector interventions to enable a scheme of c.1000 homes to be delivered. Newsteer’s integrated CPO, Valuation and Development Consultancy teams were integral to presenting a deliverable business case.
Outcomes and impact
The Woolwich Exchange CPO was confirmed without modification on 12 July 2023, enabling the regeneration to progress. Through our revised business case the CPO was implemented in August 2026. Terms are currently being negotiated with a new developer to support SSQ LLP deliver the scheme.
