Triangle London Developments has been named as Transport for London’s preferred partner to redevelop a four-acre site in Kidbrooke which will provide 400 new homes, half of which will be available on “affordable” terms.
The firm’s selection, which is subject to approval by the TfL Finance Committee and contract completion, paves the way for planning permission to be sought and work to get underway by 2018.
City Hall and TfL say they aim to have the first homes available to buy and rent by 2020 and promise the development will also bring new commercial, retail and office units, as well as an improved transport hub, to the area.
Last year this site revealed how TfL was having to form joint ventures in order to meet Mayor Sadiq Khan’s pledge to ensure 50% of homes built on its land are affordable.
James Murray, Deputy Mayor for Housing and Residential Development, said: “The Mayor is determined to fast-track more public land for development and to ensure at least half the new homes across TfL’s portfolio of sites will be genuinely affordable.
“Kidbrooke is a site that has sat unused for the last eight years, so I welcome this joint venture and I look forward to seeing work gather pace to deliver new affordable homes for Londoners to buy and rent.”
Graeme Craig, Commercial Development Director for TfL said: “Naming our preferred bidder is an important step forward in transforming this long-vacant site.
“We were delighted with the quality of design proposed by Triangle London Development, and are excited about working with them to create a thriving, vibrant place to live and work.
“This is the first of dozens of sites across London that we expect to bring forward in joint venture using our Property Partnerships Framework, and it is a great place to start.”
Kate Davies, from Triangle London Developments said, “It is a great honour for Triangle London to be selected as TfL’s preferred partner for Kidbrooke, the first site awarded through the Property Partnerships Framework.
“The framework is a fantastic way of addressing the desperate need for more homes in London, and we are looking forward to partnering with TfL to deliver a great new community with much needed affordable housing.”