Landsec Shelves £1.5bn Lewisham Housing Scheme After Green Council Demands More Affordable Homes

Landsec has shelved a £1.5bn plan to rebuild Lewisham Shopping Centre in south London, citing opposition from the borough's Green-led council and "exceptionally challenging" economic conditions. The developer said it would "de-prioritise" the redevelopment, which was to deliver 1,700 homes and student accommodation. Landsec blamed Green mayor Liam Shrivastava, who refused to back the plans without more affordable housing. Of the 1,744 homes planned, 98 would have been offered at social rent. The project, slated to start next year, also included a 500-capacity music and arts venue and a rooftop meadow. The decision deepens a London housebuilding slump. Taylor Wimpey has said it will stop building new homes in the capital, with chief executive Jennie Daly calling the market "fundamentally broken." Berkeley's Rob Perrins cited "extreme uncertainty" after authorities delayed or halted projects. London is on course to build just 20pc of the Government's annual target of 88,000 homes, per Molior data. Shrivastava said his administration is "laser focused" on affordable housing but conceded conditions for major projects are "simply not favourable right now."