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The developer now expects first starts in 2027 on major projects at Mayfield in Manchester, Lewisham in south-east London, Finchley Road in north London and MediaCity in Salford.

Landsec said that returns were currently not at sufficient levels to justify earlier starts.

In the last six months, the developer has secured a resolution to grant detailed consent for the first 879 homes at Mayfield in Manchester and secured resolution to grant part-outline and part-detailed consent for 2,800 homes in Lewisham.

This adds to the existing consents for 1,800 homes at Finchley Road in North London and an allocation for 2,700 homes at MediaCity in Salford.

But market conditions remain challenging with the firm highlighting the collapse in London housing delivery, where new starts in the first nine months of 2025 fell to just 3,248 – down around 75% over the past three years.

In a trading statment this morning, the developer said: “We could see first starts on site in 2027, taking into account detailed design works, Building Safety Act approvals, and site preparation. However, returns currently are not at sufficient levels.”

It said there were early signs of improvement in development market conditions. These included a “positive” policy shift in London around cutting affordable housing targets from 35% to 20%, halving the Community Infrastructure Levy, and easing design burdens.

Landsec added: “These measures are supportive… and could lead to an improved outlook for residential development returns in 12–18 months, but in the meantime capex spend will be very limited.”

The 11-year construction programme is estimated to start in 2026 with the first homes delivered in 2030.

Kensal Canalside will contain 2,519 new homes plus two parks and a local high street with new offices, shops, cafes and restaurants – with a reinstated, historic canal basin at its heart.

Plans also include a new flagship 60,000 sq ft Sainsbury’s supermarket with car parking underground.

The proposed neighbourhood will transform the 19-acre brownfield site in the Royal Borough of Kensington and Chelsea – a large proportion of which has been closed off to the public for over 40 years as a former gasworks.

John Mulryan, Group Managing Director, Ballymore, said: “This will be an exemplar project, showing how we can turn a complex, former gasworks into a thriving place full of character delivering over 2,500 much needed new homes.

“Kensal Canalside will bring thousands of jobs, a new high street, leisure spaces – all of which will be game changing not just for the people who’ll move here, but for thousands of residents in the wider community.

“Kensal Canalside demonstrates the partnership approach we are taking to deliver large numbers of high-quality homes across the capital – in this case with Sainsburys.

“The collapse in housing starts in London is a serious threat to our city and the wider country. With our partners and local councils we have a responsibility to build increasing numbers of new homes, and we know that large, under-used brownfield sites like this can make a significant contribution to delivery.”

Patrick Dunne, Chief Property & Procurement Officer, MD Smart Charge, Sainsbury’s, added: “Since 2009 we’ve been working successfully with development partners like Ballymore to redevelop Sainsbury’s sites into new homes and community spaces, while transforming what we offer customers.

“We’re thrilled that the Council has granted us permission to build on this track record and deliver a groundbreaking new development for Ladbroke Grove.”

The sale paves the way for a £3.9bn investment to build one of Europe’s biggest and most advanced data campuses, consisting of three big builds.

Covering 85 acres off the M25, the vast site now rebranded by Equinix as the Hertfordshire Campus will deliver more than two million square feet of data centre space to support the surging demand for cloud and AI services.

The deal marks a major milestone for the UK’s fast-growing data infrastructure sector following the government’s move to classify data centres as Critical National Infrastructure last year,  a decision influenced by the scale of the DC01UK project.

James Craig, director of DC01UK, said: “This is a landmark moment for the UK and a powerful example of local entrepreneurship driving national innovation.”

He added: “We’re proud to see our vision taken forward by a global leader committed to delivering it to the highest standards.”

Its St William business has secured full planning from Newham Council for a comprehensive package of enabling and remediation works, which are essential ahead of the vast Beckton Riverside residential development.

The first phase of early works will cover 30 acres of derelict former gasworks land, out of use since the 1960s.

Dean Summers, managing director of St James & St William, said: “This marks a significant step forward for this complex, long-term regeneration site.

“There is still a long way to go to bring this project into delivery, and we continue to work closely with the council, GLA, Homes England, and local stakeholders to develop a viable scheme that unlocks the site’s enormous potential.

“Berkeley Group is ready to invest over £250m in the first phase to remediate the 30-acre site, strengthen flood defences, upgrade local infrastructure, and begin creating a sustainable new neighbourhood in East London.”

He added: “The result of this partnership would include 2,900 homes, high-quality community facilities, a riverside park, and a network of welcoming public spaces, including a new stretch of Thames riverside that has been fenced off for generations.

“Unlocking this key site would also be the catalyst for further investment in the surrounding opportunity area and strengthen the case for the DLR extension to Beckton and Thamesmead.”

Construction could begin in 2028 with first homes due in 2030.

Areli Developments is behind the 77 Marsh Wall scheme containing 820 residential units designed by architecture practice Patel Taylor.

The residential-led scheme will include 238 homes for flexible living, 195 for Build to Rent and 266 for apart-hotel, allowing tenants to stay for any length of time.

The scheme will also feature 7,000 sq ft of commercial and community space for both residents and visitors to enjoy.

Rob Tincknell, Founder and CEO at Areli Developments said: “Our vision for 77 Marsh Wall was to create a place that naturally encourages people to come together, regardless of how long they choose to stay or the type of home they live in.

“By providing multiple tenures within a single development, we are bringing together people across various stages of life to connect, share experiences and feel part of a wider community.”

The £350m Snowsfields Quarter scheme being developed in partnership with Guy’s & St Thomas’ Foundation is designed by Allies and Morrison and DSDHA.

The strip site will comprise three new buildings containing 245,000 sq ft of specialist labs facilities as well as community, including exhibition and training facilities.

Under present plans, site clearance will take place next year, with construction starting in 2027.

Emma Kowsari, director of asset management, sustainability and development at Guy’s & St Thomas’ Foundation, said: “This is a key milestone in realising our shared vision of creating a new life sciences hub and supporting better health outcomes for our local and global communities.

“Our proposals will make a positive contribution to the London Growth Plan creating spaces for research and development, attracting the best companies and talent and cultivating a thriving ecosystem to inspire Southwark’s next generation of scientists.”

The £1.7bn masterplan will deliver over 1,700 new homes alongside 660 student rooms, 445 co-living beds and a reimagined retail offer matching today’s floor space.

Demolition of the current shopping centre and the construction of the new one will start in 2026 to be delivered in phases over around 10 years.

Approved by Lewisham Council last night, the project will also bring back the much-loved Model Market in a permanent new home, and add a 500-capacity culture and music venue to reignite the borough’s night-time economy.

The new district will be built around eight-acres of green space and public realm, including an urban meadow above a central podium building connecting much of the wider scheme consisting of around 14 major building projects.

Landsec’s masterplan, designed by SEW, includes a detailed application for the first two residential buildings, designed by Mae Architects, Studio MULTI and Archio.

Mike Hood, COO at Landsec, said: “This is an exciting moment for the future of Lewisham’s town centre. These plans provide much-needed homes, community spaces and facilities that will enhance urban life for generations, while delivering sustainable returns that support our ambition for long-term growth.”

Landmark has acquired a prime site on William Road in central London and plans a a new development of 225 purpose-built student beds.

The Zone 1 site is just a 10-minute walk from University College London (UCL), Euston Station and Regent’s Park.

It marks the start of Landmark’s planned UK strategy focused on student housing in prime regional university cities and super-prime central London locations.  The firm currently has a pipeline of more than 3,000 beds.

Wes Rogers, Chairman and CEO of Landmark Properties said: “Closing our first development deal in the UK represents a huge milestone for Landmark.”

Landmark is partnering with global student accommodation manager Centurion Corporation on the William Road scheme.

Kong Chee Min, CEO of Centurion Corporation Limited said: “Together with Landmark’s proven development expertise, we are excited to expand our operational excellence to London, our sixth city in the UK, and deliver a premium purpose-built student accommodation.”

The land sale was brokered by the Student Property team at Knight Frank.

Partner Rupert Strutt said: “Landmark’s debut UK investment is a significant cross-border play by one of the largest US student housing providers. Their entry into London is a significant vote of confidence in the sector’s resilience and long-term growth.

“There is a great appetite for well-located, high-quality schemes and overseas investors are particularly attracted to UK PBSA as the demand continues to outstrip supply. As we progress through 2025, the sector remains well-positioned for another year of robust investment.”

Developer HUB has submitted proposals drawn up by architect AHMM to redevelop the 1.2-acre plot into a mixed-use scheme of 678 co-living homes and social rent flats, together with a new community health hub and improved public realm.

The trio of new buildings would form Elephant and Castle’s first purpose-built co-living project, rounding off a regeneration that has reshaped the area with new homes, shops and green spaces.

All affordable housing on the site will be 100% social rent, split across one-, two- and three-bed family homes. Residents will share landscaped podium gardens, rooftop terraces and a dedicated children’s play area.

The health hub will occupy the lower floors of one block, meeting long-standing demand for local healthcare facilities as the neighbourhood’s population continues to grow.

Damien Sharkey, managing director at HUB, said: “We are excited to reveal our proposed plans for this important site, which we have worked hard to ensure responds to local needs and community views while melding cohesively with the rest of Elephant Park.

“As one of the final sites to come forward in this neighbourhood, we have an opportunity to deliver essential infrastructure for this community with a new community health hub, alongside new co-living and truly affordable social rent homes.”