OPDC has spent £42.7 million with little to show

A new report from the London Assembly Budget and Performance Committee published today has revealed that the Old Oak and Park Royal Development Corporation (OPDC) has spent £42.7 million, even though five years on, little has been done on the ground to bring any new jobs or homes to the area.

The OPDC is a development agency for the regeneration of a large site in North West London spanning the London Boroughs of Hammersmith & Fulham, Brent, and Ealing.

The OPDC applied for a £250 million Housing Infrastructure Fund (HIF) grant from the Ministry for Housing, Communities and Local Government (MHCLG), following an announcement in the 2018 Spring Budget. The OPDC was conditionally awarded the HIF funding for its proposed plans for North West London. In December 2019, the London Assembly discovered that the documents which were sent to MHCLG in support of the HIF bid funding referred to a letter of support from a local business. This business was integral to all of the OPDC’s plans, and the reference claimed it was on board when this was not the case.

Susan Hall AM, Chairman of the Budget & Performance Committee, said:

“The concept of the OPDC was a good one, no one can fault that. The original plans from 2015 show that the site was going to create 25,500 homes and 65,000 jobs, with excellent transport links. However, as it stands today, little has been done on the ground to bring any new jobs or homes, leaving a missed opportunity.

“Although having spent £42.7 million to date, OPDC has little to show for it. The north west London site remains almost exactly the same as what it was five years ago. Given the current investment is enough money to build 160 homes, Londoners who live in the area must be extremely frustrated and taxpayers might be wondering whether the OPDC delivers value for money. The Mayor needs to look at OPDC’s record and its future plans very closely.”