Muse Developments, Morgan Sindall’s urban regeneration and development arm, was chosen to deliver the £135m regeneration scheme in Brixton town centre, south London.
The deal includes the construction of a new town hall as well as 125,000 sq ft of office space and 275 new homes.
According to the developer 40 per cent of the 275 houses will be affordable.
As part of the redevelopment, Lambeth Council will preserve the historic town hall while reducing its core office buildings from 14 to 2, saving at least £4.5m a year.
The scheme is estimated at £50m, with an overall development value of £135m.
Michael Auger, development director at Muse Developments, said: “We are very excited to be on board with such a major regeneration project; we want to create something that everyone in the borough can benefit from and which adds even greater vibrancy to Brixton’s thriving community.”
Cllr Paul McGlone, cabinet member for finance, said: “This development agreement gives the green light to a project that will bring enormous benefits for all Lambeth residents. Your New Town Hall is a great deal for Lambeth taxpayers and businesses.
“Muse has an exemplary track record with town centre regeneration and a commitment to our philosophy, as a cooperative council, of working with the community and its stakeholders throughout the process.”
A planning application should be submitted by January 2015, and subject to planning consent, work is expected to start in summer of 2015.
Photo Source: Building
