SNG exchanges with L&G and Nomura Real Estate UK to deliver 85 affordable homes in Herne Hill
We've exchanged contracts with L&G and Nomura Real Estate UK to deliver 85 affordable homes on a brownfield site in Herne Hill, within the London Borough of Lambeth. The homes are being forward funded by SNG, with L&G and Nomura Real Estate UK acting as developer responsible for delivery of the on-site affordable housing.
The deal forms part of the wider Coal Yard scheme, a 1.5‑acre site on Shakespeare Road, in Herne Hill, which will transform a former waste management facility into 278 new apartments. Of these homes, 52 will be for Social Rent and allocated to people on Lambeth Council’s housing register, while the remaining 33 will be available for Shared Ownership.
Designed by Rolfe Judd Architecture, the development is inspired by the site’s industrial and railway heritage. It will comprise three buildings ranging from six to 15 storeys, with all apartments benefiting from private balconies and most offering dual‑aspect layouts. The one, two and three‑bedroom homes will all meet our sector‑leading Homes and Place Standard.
The scheme will also deliver new landscaping and public realm improvements along Shakespeare Road, alongside a private communal courtyard for residents. The buildings will be set back and screened from the railway lines to the south and east to help minimise noise.
SNG’s homes are partly funded through the Greater London Authority’s (GLA) Affordable Homes Programme 2021-26.
Matt Bird, SNG Regional Director (London and East), commented: “We’re delighted to be working in partnership with Legal and General to bring forward high‑quality, genuinely affordable homes in the London Borough of Lambeth. This development reflects SNG’s continued commitment to tackling London’s housing shortage by delivering well‑designed, secure and sustainable homes in thriving communities. We look forward to seeing these new properties make a real and lasting difference for people who need them most.”
Dan Batterton, Head of Housing, Asset Management, L&G, said: “This transaction reflects the strength of partnership-led delivery in bringing forward much-needed housing in London. Working with Nomura and SNG, we are aligning long-term capital, development capability and operational expertise to support a multi-tenure approach, delivering high-quality homes and helping to address London’s ongoing supply challenges.”