The Government's housing and regeneration agency, Homes England,
has approved a £124 million funding package to unlock more homes
and deliver new state-of-the-art infrastructure at Barking
Riverside in east London.
Barking Riverside, a 443-acre brownfield site formerly occupied
by Barking Power Station, is one of Europe's largest placemaking
projects. Upon completion the new mixed-use development will
provide affordable family homes, enhanced green spaces, 7 new
schools and better access to the River Thames, as well as a
significant amount of retail, employment and community space.
The funding agreed by Homes England is a combination of loan and
grant funding and will help master developer Barking Riverside
Limited (BRL) — a
partnership between L&Q and the Mayor of London – to prepare
the land including flood defence work and the construction of an
energy centre and parks. This vital infrastructure will help make
it possible to build another 16,500 homes on the site, to
complement the 3,500 already built or under construction by
housing association, L&Q, and housebuilder, Bellway. This
could see up to 20,000 new homes in total delivered at Barking
Riverside, creating a community of up to 50,000 people.
, the Deputy Mayor of London for Housing and
Residential Development, said: “Barking Riverside is an exemplary
new town that is transforming east London with state-of-the-art
new homes, community facilities, transport links and green
spaces.
“I'm delighted that £124 million has been secured to help unlock
20,000 new, high-quality homes. This will help support the
mayor's plans to boost homebuilding across London and build a
fairer, more prosperous city for everyone.”
The site's current planning consent for 10,800 homes was
originally approved by the London Borough of Barking and Dagenham
in 2008, however it's since been identified that the site could
house up to 20,000 homes, with a minimum of 35% of these being
affordable.
Fiona Fletcher-Smith, CEO at L&Q said: “This new funding from
Homes England is a vital boost for Barking Riverside. With demand
for affordable housing soaring, housing associations like L&Q
are essential to delivering solutions — but real progress depends
on government support. That's why this investment is so
important: it allows us to do more, faster, and at a scale that
truly meets the needs of local people.
“Barking Riverside shows what's possible when ambition meets
collaboration. Through strong partnerships and a shared vision,
we are transforming this brownfield site into a sustainable
community, prioritising quality homes, green spaces, and new
opportunities. The progress here is a testament to what two
like-minded organisations can achieve together, and we're excited
to move forward with the next phase of homes and infrastructure
for the people of east London.”
Significant transport infrastructure to unlock the initial 10,800
homes has already been completed following a previous funding
commitment from Homes England in 2020. The new Barking Riverside
overground station opened in 2022, while the development will
also give the community access to a network of footpaths and
cycleways with direct access to 2 kilometres of south-facing
riverfront on the Thames.
Future homes built at Barking Riverside will be powered by a low
carbon District Heating Network, which means that heat and hot
water is generated locally and brought to homes through an
underground network of insulated pipes, an environmentally
friendly alternative to gas boilers. Once completed, Barking
Riverside will be served by 7 new schools. 5 have already been
completed, including 2 primary schools, a secondary school and a
Special Educational Needs (SEN) school.
Matthew Carpen, Managing Director of Barking Riverside, said:
“Barking Riverside has delivered thousands of vitally needed new
homes for Londoners, on brownfield land that has already seen a
significant investment in infrastructure. However, the support
from Homes England will enable this project to move into a new
era — increasing the level of ambition and unlocking housing at
the scale needed to truly make an impact.
“We are excited to make our new masterplan a reality, which would
not be possible without a number of important partnerships.
Fundamentally, this funding from Homes England ensures that
Barking Riverside can remain delivery-focussed and resilient
despite a challenging market.”
Peter Denton, Chief Executive of Homes England, said: “Delivering
the government's target of building 1.5 million homes will
require support and collaboration from across the housebuilding
sector.
“At Barking Riverside there is potential to literally build more
homes — and more affordable homes — in a place where they are
desperately needed. And that's why we've stepped in, providing
funding to deliver vital infrastructure, unlocking more land, so
that our partners can build even more homes for the people of
east London to enjoy and be proud of.”
