Property giant Landsec pulls £1.5bn Lewisham shopping centre rebuild and 1,744 homes after Green council refuses to back it
The Lewisham Green Party, whose council refused to approve compulsory purchase powers unless Landsec offered far more than the 98 social-rent homes included in the scheme.The proposed Landsec development site in Lewisham, where 1,744 flats and towers up to 35 storeys won planning approval under the previous Labour council in October 2025.
Lewisham's Green-led administration would not support the next stage of buying up the site unless the scheme carried far more affordable housing. Of 1,744 planned homes, just 98 were for social rent, with 231 at discounted rates or for key workers. Landsec also blamed higher interest rates, rising build costs and red tape. Work had been due to start next year on the 17-acre site approved in October 2025.
The scheme featured a 35-storey tower, 661 student rooms and a 445-home co-living block.
The ten-year, six-phase project would have replaced the 1977 mall and multi-storey car park.
Landsec insists: 'Today's news does not mean that we're leaving Lewisham.'
