Pull to refresh
Logo
Native Land selects Bennett Construction for £132m Guildford riverside project

Native Land selects Bennett Construction for £132m Guildford riverside project

Built World

180-home St Mary's Wharf on the former Debenhams site enters main construction phase

Today: Bennett Construction appointed for main build

Overview

Updated 2 hours ago

Native Land has picked Bennett Construction to lead the main construction phase of St Mary's Wharf, a 180-home riverside development in Guildford town centre. The developer closed £132m in development financing this month: £100m from NatWest and £32m from Homes England's National Housing Bank.

The 1.7-acre site on the River Wey has sat empty since the Debenhams store there closed in May 2021. Demolition, groundworks, and flood protection are done. Main construction starts now, with sales launching in spring 2027 and completion expected by the end of 2028.

Why it matters

A vacant riverfront Debenhams site becomes 180 Guildford homes, backed by government housing finance - a test of town-centre brownfield regeneration.

Questions about this story

Free account needed to ask — your question is kept and asked for you right after sign-up. Answers are public.

No questions yet — be the first to ask.

Key Indicators

180
Homes planned
Private and affordable apartments across two buildings designed by Squire & Partners.
£132M
Development financing closed
£100m senior debt from NatWest plus £32m mezzanine from Homes England's National Housing Bank.
415
Construction jobs expected
Plus up to 83 permanent jobs within the development and £1.7m a year to the local economy.

Voices

Curated perspectives — historical figures and your fellow readers.

Ever wondered what historical figures would say about today's headlines?

Sign up to generate historical perspectives on this story.

People Involved

Organizations Involved

Timeline

May 2021 October 2026

5 events Latest: Today
Tap a bar to jump to that date
  1. Bennett Construction appointed for main build

    Today Contract

    Native Land selects Bennett Construction to lead the main construction phase; preparatory work starts immediately.

  2. £132m financing closes

    Financing

    NatWest provides £100m senior debt; Homes England's National Housing Bank adds £32m mezzanine finance.

  3. Infrastructure funding from Grosvenor

    Financing

    Grosvenor provides £18.5m to fund demolition, basement works, flood protection, and environmental improvements.

  4. Planning approval secured

    Regulatory

    Guildford Borough Council approves Native Land's St Mary's Wharf scheme by a 6-5 vote after 200 objections and 180 letters of support.

  5. Guildford Debenhams closes

    Closure

    The riverside department store shuts after the chain's collapse, leaving the 1.7-acre site vacant.

Scenarios

1

St Mary's Wharf completes on schedule in 2028

Likely Resolves by Jan 31, 2029

Discussed by: BBC News, Construction Enquirer, and the project's own construction schedule

Preparatory work starts immediately, with main construction beginning in the coming weeks. Native Land plans to launch sales in spring 2027 and complete the 180-home development by the end of 2028, per the project's registered timeline. A clean build with no major delays delivers homes, shops, and the new riverside walk on schedule.

2

Construction delays push St Mary's Wharf past 2028

Possible Resolves by Q2 2029

Discussed by: Speculative scenario based on UK construction risks: supply chain, labour availability, riverside ground conditions

The riverside site poses ground and flood-protection challenges, and UK construction has faced materials and labour pressures in recent years. A delay in any of these areas could push completion into 2029. The project's registered schedule runs through October 2028, leaving little buffer for slippage.

3

Spring 2027 sales launch draws strong demand

Likely Resolves by Q3 2027

Discussed by: Native Land expects appeal to downsizers, young professionals, and families

The scheme's town-centre location, direct River Wey frontage, and quality finish are expected to attract buyers in a housing-constrained market. Guildford faces Green Belt restrictions and limited large cleared sites, keeping demand high relative to supply. A strong launch would validate the model of converting vacant retail sites into housing.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

2021

Debenhams collapse and empty town-centre stores (2021)

Debenhams went into administration during the pandemic and closed its remaining UK stores by May 2021. Flagship sites across the country, including Guildford's riverside store, were left vacant in town centres.

Then

Guildford's 1.7-acre riverside plot sat empty for years.

Now

Many former Debenhams sites have since been redeveloped or converted; St Mary's Wharf is among the largest housing-led conversions.

Why this matters now

St Mary's Wharf shows how a prominent retail vacancy becomes housing, public space, and restored riverside access.

2010s-2020s

Battersea Power Station regeneration (2010s-2020s)

The derelict power station on the River Thames sat abandoned for decades before a consortium began redeveloping it into a mixed-use neighbourhood with homes, offices, and retail.

Then

The first phases opened incrementally through the late 2010s and early 2020s.

Now

It transformed a long-vacant riverside brownfield site into one of London's major regeneration projects.

Why this matters now

Like St Mary's Wharf, it shows how riverside brownfield land can become housing and public space after long vacancy.

Sources

(9)