More than 20,000 new homes are expected to be built in the capital over the next decade on land owned by Transport for London, TfL, and Network Rail.
TfL’s commercial property company TTL Properties and Network Rail have formed a partnership to deliver homes and commercial properties across nearly 14,000 acres of land they own across the capital.
Network Rail group property director Robin Dobson said: “This is a landmark moment for the capital, to see our two organisations build a partnership together. Jointly working with local authorities, this will benefit London’s communities, and businesses to drive economic growth.
“We look forward to working closely with key stakeholders to accelerate development delivery which over the coming decade will provide a positive impact for the region.”
Brownfield sites will be included
Network Rail and TfL are among the largest landowners in Greater London with brownfield sites across the capital and surrounding counties that could be used for development.
Central to the delivery of the regeneration will be a master planning approach which can meet the changing needs of how communities live and work.
The partnership will look at bringing improvements to stations and services through development to ensure transport destinations drive economic benefits in local areas.
Developments are to be designed in keeping with the local environment and heritage, and aim to use modern, low-carbon construction methods.
TTL Properties director and chief executive Graeme Craig said: “We are looking to combine our efforts to deliver more homes, with a focus on affordable housing, and with great social impact that benefits local communities as well.
“We are fully focused on the extensive potential that our partnership will unlock as our teams begin to work together on improving the capital for all.”
The programme intends to deliver positive social impact for local communities, through new jobs and construction skills training schemes.
Property finance brokers Hank Zarihs Associates said development finance lenders would be keen to support projects that benefitted the local economy especially if SME builders were included.
