The UK’s rail infrastructure manager, Network Rail, and Transport for London (TfL) have announced a new partnership that will see thousand of new homes and commercial properties being built across the capital.
This type of agreement is a first between the two organisations. In total, Network Rail and TfL are aiming to use their estates to deliver more than 20,000 new homes over the next ten years.
The strategic collaboration is between Network Rail and TfL’s wholly owned commercial property company TTL Properties.
Under this strategic collaboration, dozens of sites within the companies’ estates across London and the wider south-east region will be considered. Network Rail and TfL are among the largest landowners in Greater London. Together, they own almost 14,000 acres of land across the capital. A significant proportion of this land is operational of course. However, there are also brownfield sites across London and surrounding counties that could be used for development, delivering new housing and commercial properties.
“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.”
The new homes are also to include affordable housing, the two companies 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.”
Another aspect of this partnership is that it will look at bringing improvements to Network Rail and TfL stations and services through development. To aim is to ensure the transport destinations continue to drive economic benefits in local areas.
The partnership will work closely with the GLA, local boroughs, private sector investors and property companies to take advantage of their joint landholdings.
A central component of the delivery will be a master planning approach that “can meet the changing needs of how communities live and work”.
Please fill in the contact form opposite. A member of the team will be in touch shortly.