A new strategic partnership has been announced to help deliver the first 386 ‘affordable’ homes at Battersea Power Station.

Housing association Peabody will collaborate with the developer to provide the housing.

The ‘affordable’ homes will be delivered three years early with the preliminary works beginning this year.

Battersea Power Station Development Company (BPSDC) chief executive Rob Tincknell said: “We believe Peabody are one of the best in class when it comes to providing and looking after affordable homes so we are confident this partnership will ensure the local community benefits sooner than we originally promised and can enjoy the high standards of accommodation they rightly expect.

“We look forward to starting works on these homes with Peabody and encourage locals to register to become part of the Battersea Power Station community.”

A new £13 million NHS medical centre alongside workspaces for business start-ups are also in the plans, with the homes being a mixed of shared ownership and ‘affordable’ rent.

Rented homes will be ‘significantly’ discounted from market rate and homes will be available on a part-rent, part-buy basis.

Councillor Ravi Govindia, Wandsworth Council’s leader, said: “This is an important announcement as part of the wider Nine Elms regeneration project, which is bringing 20,000 new homes and 25,000 permanent jobs to the area.

“Wandsworth Council has been involved with Peabody on many different projects over several years and we are pleased to be working alongside them again.

“I’m delighted to see these hundreds of new homes being delivered at affordable prices and it’s also pleasing that four-bed homes are going to be available for local families who may be struggling to find accommodation in the difficult housing market climate.”

BPSDC says the development will create 20,000 new jobs and inject £20 billion into the UK economy.