Landsec shelves £1.5bn Lewisham shopping centre redevelopment

Summarised from 2 outlets · Updated 21 Oct, 11:08 · Archive

Property developer Landsec has abandoned plans to redevelop Lewisham Shopping Centre worth £1.5billion, a year after approval.

Landsec, which owns Lewisham Shopping Centre, has announced it is 'deprioritising' the £1.5billion scheme after encountering difficult economic circumstances, saying it will focus on other projects instead. The plans, approved by Lewisham Council's Strategic Development Committee in October 2025, would have demolished the existing 1970s shopping centre and a multi-storey car park to make way for 1,744 flats, student accommodation and a new shopping mall across 17 acres, with tower blocks up to 35 storeys high.

The development faced criticism from local campaigners over inadequate affordable housing. Of the proposed homes, only 98 would be social rent while 231 would be let at discounted market rates or for key workers. Landsec also planned 661 student rooms and a 23-storey co-living block with 445 homes.

City AM reports that Lewisham Council, which is Green-run, refused to exercise compulsory purchase powers to speed up delivery unless Landsec provided significantly more affordable housing. Landsec said the council's position made it impossible to proceed. A Landsec spokesperson stated the company remains committed to the borough and will focus on operating the existing centre and supporting its retailers and community partners.

How it is being reported

• FTSE 100 landowner pulls £1.5bn London shopping centre plans in row with Green councilA FTSE 100-listed landowner has shelved plans for a £1.5bn shopping centre project in South London after a local Green-run council refused to co-operate with the plans. Property giant Landsec, which owns Lewisham Shopping Centre, said it is “deprioritising” its plans to redevelop the site following a row with the local authority over affordable housing. [...]City AM · 21 Oct, 10:58
• Developer drops £1.5billion south London shopping centre plan citing Green council's 'lack of support'The redevelopment of Lewisham Shopping Centre has paused just one year after the plans were approved by councillorsEvening Standard · 21 Oct, 08:57

In this story: Landsec · Lewisham Shopping Centre · Lewisham Council · Lewisham

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