Countryside selected for major regeneration in Lambeth

Countryside Properties PLC has been selected by the Guinness Trust as its housebuilder partner for the £105M regeneration of the Trust's Loughborough Park Estate in South London.

The estate, which was built in the 1930's, falls well below current housing standards and the Trust now wishes to replace the 390 existing homes with a new, mixed tenure scheme comprising approximately 530 new homes together with community and other facilities.

Countryside and the Trust have recently started a consultation programme with existing residents that will involve them closely in the planning process, all the way through from the development of the master plan to the layout of the individual homes.

Deputy Chairman of Countryside Properties, Richard Cherry commented. "We are delighted that the Guinness Trust has selected us for this project. It is an excellent opportunity not only to work with the Trust and its tenants, to provide much bigger and better homes, but also to make a major contribution to the regeneration of this part of Lambeth".

Raj Upadhyaya, Group Director, Guinness Trust said: "The Guinness Trust chose Countryside following an extensive process involving several major house builders. The Countryside proposal provides an excellent opportunity to transform the estate and regenerate the area.

"We are very proud to work with Countryside to make a real difference for our residents".

It is intended that, subject to planning, work will start in 2010.