A housing company created by London Borough of Bexley has slashed the number of homes it is planning due to a difficulty in acquiring development sites.
The original business plan for Bexleyco set a target of creating a pipeline of 2,500 homes over the next 10 years.
However, a revised plan approved by the council’s cabinet now says it only expects to deliver 1,200 homes over the period.
The new plan said: “A key challenge remains for the company to secure a viable pipeline of development sites as only one additional site has so far been identified.
“Therefore, a more prudent approach to the pipeline has been taken, matching more closely the development rate from the initial five sites.”
