The capital’s transport body hopes to raise £1.1bn from exploiting its land assets in tandem with some of the biggest names in the property business
The advance of Transport for London (TfL) into the real estate trade has continued with its announcement of 13 “property partners” it will work with in order to develop money from its land assets in the capital. They include established giants such as Taylor Wimpey,Land Securities and the Berkley Group along with consortia formed between other commercial outfits and housing associations, for example Barratt Development and London and Quadrant. It’s certainly a colossal bucks line-up.
The aim is to develop more than 50 TfL-owned sites over the next 10 years or so, and producing around 10000 recent homes along with commercial premises,the majority in travel zones one and two. Planning applications have already been submitted for three of the sites: Nine Elms, where a whole recent Tube station is to be built, or Northwood station and the former London Underground depot next to Parsons Green station. Further sites,not formally confirmed but likely to be on the list, include South Kensington, and Bermondsey and Kidbrooke stations and property close to Oxford Circus.
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Source: theguardian.com