Ambitious plans to transform one of the most deprived parts of London into a thriving new district with up to 24,000 new homes and more than 55,000 jobs have moved a step closer.
At the international MIPIM property conference today, (Thursday, March 13) the Deputy Mayor for Planning, Sir Edward Lister, announced that City Hall is about to enter detailed negotiations with three local authorities in order to create a Mayoral Development Corporation (MDC) that will drive the comprehensive regeneration of a 195 acre semi-industrial site at Old Oak Common, West London. This follows Mayor Boris Johnson’s keynote speech at MIPIM earlier this week.
The Mayor’s office has now published draft key objectives and powers for the MDC, together with its proposed boundary. The Mayor’s team will shortly meet with Hammersmith & Fulham, Brent and Ealing councils in order to agree these details so that the MDC can best maximise the enormous benefits that are linked to the construction of a ‘super hub’ High Speed 2 (HS2) and Crossrail Station that is due to be constructed by 2026.
Research from the Mayor’s Office indicates that the regeneration scheme could be worth up to £6.2 billion for the London economy, with the potential for Old Oak to supply up to 2.5 per cent of the Greater London housing requirement and almost 14 per cent of Greater London’s employment need up to 2031.
The Mayor of London, Boris Johnson, said: “The arrival of Crossrail and HS2 will lead to the creation of an entirely new city quarter for London, if we get the design and transport links right.
“By working with the three local authorities, we will be able to best maximise this once-in-lifetime opportunity to spark widespread economic and social regeneration to a part of the city that is in desperate need of major improvement. This advance planning will ensure we generate significant benefits for Londoners especially for people in the local area, which includes much needed new homes and jobs.”
The MDC will look to unlock the enormous regeneration potential of Old Oak Common in a targeted approach to emulate the success of the London Legacy Development Corporation that continues to lead the post-Olympic regeneration of Stratford and East London.
The proposed HS2 / Crossrail station will be the same size as Waterloo, with the capacity to handle 250,000 passengers a day, and link the two largest infrastructure projects in the UK. It would also have direct access to Europe via HS1 (Eurostar), with Paris just over two hours away.
To support the development, it is critical that improved links to the London Overground and the West Coast Main Line are made – a case that TfL is making to HS2. Five of the nation’s airports will be linked to the high-speed rail network for the first time through the Old Oak interchange. Central London and Heathrow will be just 10 minutes away, Birmingham will be 40 minutes direct from Old Oak and Luton, Gatwick and City Airport will all be within 45 minutes. In addition, if the Government decides to move Heathrow to a new hub to the east of London, there will be a direct connection from Old Oak via the HS1 link in less than 30 minutes.
Cllr Nicholas Botterill, leader of Hammersmith & Fulham Council, said: "HS2 has the potential to act as a catalyst to create much-needed new homes, jobs and opportunities in one of London's poorest areas. Development in the area would transform Old Oak Common, bringing thousands of jobs and new homes, and would bring long-lasting benefits for our borough residents."
A Brent Council spokesperson said: "Developments at Old Oak Common with Crossrail and HS2 connections presents a significant opportunity for new jobs, housing and public transport. It is unclear at present how Brent residents and businesses will benefit and the role of the MDC in mitigating negative impacts and sharing benefits. We are looking forward to detailed negotiations with the GLA in this respect."
Proposals to create an MDC are also subject to public consultation and approval from the London Assembly and Secretary of State. It is hoped that the MDC will be established by early summer 2015.
The Mayor and other senior officials from City Hall have been at the MIPIM property conference in Cannes, France, to bang the drum for London and entice international property developers to invest in the capital.
While in France the Mayor escalated his call to developers to market their properties to Londoners first with the launch of a Mayoral Concordat on new homes in the capital. So far, 50 developers in London have signed-up to the Concordat and the Mayor urged all developers and international investors to get on board. He also outlined plans to create more than 1,000 new high quality homes for long term private rent to help relieve pressure on the capital’s housing market, improve standards for tenants and boost the economy.
Notes to editors
• The proposed boundary for the MDC will be split into two. The ‘Primary Regeneration Area’, where up to 24,000 new homes and 55,000 jobs will be created, will include Old Oak Common and Wormwood Scrubs in Hammersmith & Fulham, North Acton in Ealing and Willesden Junction in Brent. In this area, the proposed MDC will have full planning powers, the ability to charge and collect the Community Infrastructure Levy* and the power to negotiate Section 106 agreements. It would also be able to acquire land and grant discretionary relief from non-domestic rates.
• The proposed ‘Improved Industrial Area’ would include the industrial land in Ealing and Brent and support the relocation of existing industrial uses out of the ‘Primary Regeneration Area’. Here, the MDC would only determine strategic planning applications in addition to charging and collecting the Community Infrastructure Levy and preparing local plans.
• The MDC will work closely with the three boroughs and all existing businesses in both the Old Oak Common regeneration area and the Park Royal Industrial Estate to ensure a smooth transition and an effective business relocation strategy that protects these important businesses and the jobs they provide.
• The MDC will also look to regenerate, develop and transform Old Oak, in a way that is sustainable, meets local needs and supports the strategic long-term priorities in the Mayor’s London Plan and Old Oak Vision Plan.
• In addition, it will safeguard and develop Park Royal as a strategic industrial location and attract long-term investment to the area, including from overseas. It will also promote world class architecture, place making and urban design to deliver a new high quality new part of London.
• The draft Further Alterations to the London Plan, published in January 2014, propose that Old Oak Common is designated an opportunity area.
• The Mayoral Community Infrastructure Levy is a planning charge to help fund Crossrail.