Network Rail (NR) has announced a strategic collaboration with TTL Properties, which is Transport for London’s (TfL’s) wholly owned commercial property company, aimed at accelerating the delivery of regeneration and development activity across London.
The agreement is the first of its kind between the organisations and is a major step forward in the delivery of new homes, workspace and neighbourhoods for London’s communities.
The two organisations are aiming to use their estates to deliver more than 20,000 new homes, including a significant proportion of affordable housing, over the next decade. This will be supported by this new strategic collaboration, with dozens of sites being considered within the partnership across London and the wider south-east region.
NR and TfL are among the largest landowners in Greater London with more than 600 stations between them in addition to extensive retail, office and operational portfolios. Collectively, NR and TfL own almost 14,000 acres of land across the capital. While a significant proportion of this is operational, there are also brownfield opportunities across London boroughs and surrounding counties that both NR and TfL want to unlock to make a stronger contribution to providing new housing as well as supporting the wider economic growth of the capital.
Commenting on the announcement, Robin Dobson, Group Property Director at Network Rail, 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.”
Graeme Craig, Director & Chief Executive of TTL Properties, said: “As two of the most significant landowners in London, it makes perfect sense for our organisations to work together.
“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 new partnership will also look to deliver improvements to NR and TfL stations and services through development and ensure the transport destinations continue to drive economic benefits in local areas. Developments will also be designed to be in-keeping with the local environment and heritage, and aim to use modern, low-carbon construction methods.
The partnership will work closely with the GLA, local boroughs, private sector investors and property companies to leverage their joint landholdings.
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 programme intends to deliver positive social impact for local communities, through new jobs and construction skills training schemes.
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