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Lendlease in race to partner Peabody on £4B London scheme

Australian property and infrastructure group Lendlease Corp. Ltd. and U.K.-based Morgan Sindall Group Plc emerged as the final contenders in housing association Peabody's search for a partner on its £4 billion Thamesmead Waterfront development in South London, Construction News reported.

Citing Peabody Executive Director John Lewis, the publication noted that the association, which commenced its search in April 2017, will choose a joint venture partner in the summer of 2018.

The mixed-use scheme will include a town center, commercial and leisure space across 1 million square feet of space, and 11,500 homes. Alongside the named partner, the association aims to conduct comprehensive public realm improvements and community investment, the report noted.

Peabody acquired the majority of the site, which offers room for 20,000 new homes and includes 2.5 kilometers of undeveloped riverfront space, in 2014. The landlord additionally revealed plans to spend £40 million on refurbishments in the area, according to the March 14 report.