Greenwich Council has invested £290 million in capital projects during the 2025/26 financial year, with the majority of this expenditure directed towards housing-related schemes.
The council's Capital Outturn Report for 2025/26, presented to the Cabinet on Wednesday 15 July 2026, revealed that 74% of the total investment, amounting to £217.17 million, was allocated to housing. This significant portion of the budget supports the Our Greenwich: Mission 6
by funding the construction and acquisition of new homes, as well as investments in existing council housing stock. Specifically, the Greenwich Builds Programme received £117 million for new home construction and £22 million for acquisition. A further £71 million was invested in improving existing council homes, and £21 million was allocated to acquiring properties for temporary accommodation, rough sleeping, and refugee pressures.
Significant investments were also made in education facilities, with £24 million allocated to creating new learning environments and improving existing schools, aligning with Our Greenwich: Missions 4 & 10
. These improvements include the nearing completion of the Rowan Wood SEND school at Hargood Road, which saw a £1.42 million spend above forecast but within its approved funding. The allocation also supports a series of projects to create more SEND places, including new Local Authority Resourced Provision (LARP), and the delivery of energy efficiency and low carbon measures across a range of schools through the Public Sector Decarbonisation Scheme. The annual Planned Maintenance Programme will address urgent fire safety works and improvements to building fabric and mechanical and electrical systems, alongside the development of a transitional learning centre at Bexley Road.
Furthermore, £4 million was invested in the decarbonisation of the council's non-school corporate estate, supporting Our Greenwich: Mission 10
and the borough's climate change objectives. The Greenwich Green Investment scheme also raised £1,277,000 for sustainability projects.
The report detailed that the total capital investment for the year was £290 million, a decrease from the £343 million invested in the previous financial year. This £48 million reduction is attributed to the multi-year nature of capital programmes, with variances against the forecast typically arising from the acceleration or slippage in project timelines rather than over or underspends against approved project budgets. Key projects experiencing timeline slippage include Woolwich Waves, where a £2.26 million budget allocation has been reprofiled to 2026/27 pending the final account. Housing Development (HRA) expenditure has also slipped into 2026/27 due to ongoing negotiations. The Property Programme's investment profile has been reprofiled across the 2025/26 and 2026/27 financial years, resulting in a £2.35 million reduction in spend against the forecast. Movement against the forecast position for Flexible Use arises from slippage in underlying service transformation projects or deferred application of discretionary one-off investment.
The remaining capital investment, totalling approximately £44.83 million after allocations to housing, education, and corporate decarbonisation, was distributed across several areas. These include £20.45 million for Priority Investment, £7.86 million for Transport, £3.15 million for Flexible Use, and £13.56 million for the Property Programme (excluding the corporate decarbonisation allocation). The report also details specific allocations within broader categories such as Schools/Early Years (£23.93m) and various Housing Investment and Development funds.
