Newham Council has huge plans for the regeneration of Custom House and Canning Town. The massive £3.7bn project is already in full swing, but more work is moving forward too. We want to have a closer look at the project here, as well as the next step for one piece of it. Then, if you need guaranteed rent in Newham, you can get in touch with us.

The scheme

This is one of the biggest regeneration schemes in East London. Clocking in at £3.7bn, it will create sustainable communities in two fantastic areas.

There are a number of wonderful details here. For one, the plan will deliver up to 10,000 new homes. Around 3,500 of them are already complete or under construction.

In addition, the regeneration will create a new town centre and bring more amenities like health and leisure services. There will also be new community facilities. Interestingly, the project will create a riverside walkway too.

Canning Town

This part of the regeneration has been in the pipeline since 2000. The Council chose to invest in the area to help address the level of deprivation.

Over the next decade various sites were regenerated, creating new homes for various needs. Some of these properties became ideal options for investment and guaranteed rent in Newham. Then, from 2010 onwards many other areas were chosen to regenerate. This included several where the council was the landowner. From 2018 they have been looking to deliver a higher volume of social rented housing.

Custom House

The second piece of the regeneration puzzle was to improve Freemasons Road and the wider neighbourhood. It will involve investing £300m to create housing, a new high street with shops, a health hub, and community facilities.

The proposal got approval from residents in December 2022. The first phase then got planning permission in January 2023. To date, construction work is underway to create the first 95 homes. All of them will be affordable.

The latest development here came last month. Newham Council gave approval for the next phase of the development. It will create an additional 261 affordable homes, taking the total to over 350. That in turn is over half way to the target of 629 homes in the masterplan for the area.

Now the local authority will look for a contractor to deliver the main works on the next phase. The aim is to agree this before applying for planning permission next year.

An excellent option for guaranteed rent in Newham

The regeneration of Canning Town and Custom House will attract more investors to Newham. Projects like this generally encourage others and can completely transform entire districts. It can put them on the map, creating new hotspots.

If you choose to invest, you can find excellent services with us. For one thing, we offer the most reliable guaranteed rent in Newham. It is a really good option for any investor who wants to make sure they never miss out on rental income. At the same time, it means no worries about arranging or managing tenancies.

So, if you want to find out more, feel free to contact us.