The property giant is preparing to start on site from late 2026 across a trio of major residential-led projects that will deliver more than 6,000 homes.

At Finchley Road in north London, enabling works and demolition have already been completed for the first phase of a consented 1,800-home scheme. Detailed planning is in place for the first 600 homes, with a variation decision expected later this year.

Landsec’s first major urban housing scheme in London at the O2 centre strip site in Finchley

In Manchester, Landsec has restructured its agreement with JV partners at the Mayfield site to unlock the potential for around 1,700 homes. A decision on detailed plans for the first 879 units is also expected in the second half of 2025.

The third key site is in Lewisham, south-east London, where a masterplan covering up to 2,800 homes – including student and co-living accommodation – is awaiting planning sign-off.

Landsec aims to recycle £3bn of capital out of offices and non-core assets to fund the residential push and a further £1bn of retail acquisitions.

Chief executive Mark Allan said: “Our capital allocation decisions from here are about ensuring that the growth outlook for our portfolio in 3-5 years’ time is as positive as it is for our current portfolio today.

“That is why we have set out a clear plan to increase investment in major retail by a further £1bn and establish a £2bn+ residential platform by 2030, to be funded by rotating £3bn of capital out of offices.”

The firm expects gross yields on housing schemes of around 6.5%, with net yields of 4.8–5.5%.

Meanwhile, Landsec has committed £600m to top-tier retail assets including Liverpool ONE and Bluewater over the past year and is targeting another £1bn of investment in prime shopping destinations where yields are currently hitting 7–8%.

The revised scheme for Ilderton Road in Southwark ramps up affordable housing by 55% to 186 social rent units and boosts the co-living element from 605 to 865 homes.

Designed by architect tp bennett, the four-block development will transform a vacant brownfield site with a mix of high-density housing and upgraded public realm, including a revamped central pocket park.

Construction is due to start this year using Tide’s offsite manufacturing arm Vision Volumetric, with completion set for 2027.

The modular build will allow the scheme to go up 50% faster than traditional methods while cutting embodied carbon.

Red brick façades nod to Bermondsey’s industrial heritage

Helen McManus, head of planning at Tide, said the scheme showed how “volumetric construction can deliver more affordable housing for local authorities in a faster, sustainable, high-quality and efficient way”.

The scheme adds to Tide’s growing co-living portfolio, including Enclave: Croydon – the UK’s largest operational co-living development – and The Castle in Acton, which is nearing completion after an 18-month build.

The scheme at 7 Brannan Street will deliver 912 bedrooms and is the latest move to diversify the growing residential community at the Docklands district.

Designed by Howells, the tower will feature communal and leisure spaces at ground, mezzanine, ninth and roof levels. Plans also include new ground floor retail and two waterside public gardens.

The project was rejected by Tower Hamlets Council in November last year but was later called in by the mayor’s office, which has now given it the go-ahead.

Tom Venner, chief development officer at Canary Wharf Group, said: “7 Brannan Street will be a fantastic addition to the diverse range of residential offerings at Canary Wharf.”

He added the scheme would help meet demand for student housing in a location offering access to green spaces and strong transport links.

Canary Wharf is already home to more than 3,500 residents and education providers including the UCL School of Management at One Canada Square. The new tower will bring students into the heart of a district long known for finance but now repositioned as a vibrant place to live, work and study.