Transport for London (TfL) has named 13 property developers and consortiums for its framework to deliver thousands of homes, as well as offices and retail facilities, in the capital.
The 13 have been selected following a competitive procurement process for TfL’s property partnership framework, which is part of its plans to generate £3.4bn in non-fares commercial revenue by 2023.
The 13 companies and consortiums selected are:
- Balfour Beatty
- Barratt Development and London and Quadrant Housing Association
- Berkeley Group
- British Land Company
- Canary Wharf Group
- Capital and Counties
- U+I and Notting Hill Housing Group
- Land Securities Group
- Mace, Peabody Trust and DV4
- Mount Anvil and Hyde Housing Association
- Redrow Homes
- Stanhope and Mitsui Fudosan Company
- Taylor Wimpey.
Graeme Craig, director of commercial cevelopment at TfL, said: “The 300 acres of land we have announced for development is just the first phase. We are currently reviewing our assets to see how many more sites we can develop, especially in outer London, to provide homes that Londoners can afford while also generating revenue that can be reinvested in the transport network.
“This framework marks a major step forward in allowing us to work with leading private sector developers and housing associations on an important part of our portfolio.”
TfL has started identifying development opportunities for the partnerships by submitting planning applications in Nine Elms, Northwood and Parsons Green. It is anticipated that the three sites will generate more than £100m for reinvestment in London’s transport network and deliver more than 600 new homes, a new London Underground station at Northwood, new workspaces, retail units and public spaces.
Image courtesy Transport for London