These nine London mega-projects could transform the face of the capital
Nine London mega-projects have been identified in the capital's first ever 'investment prospectus' - with the potential to change the face of the capital.
Nine London mega-projects have been identified in the capital’s first ever ‘investment prospectus’ – with the potential to change the face of the capital.
Projects in the West End, Crystal Palace, the Royal Albert Dock and Earls Court are amongst those identified by Opportunity London, a new public-private partnership to win capital investment for London.
The prospectus, which will be launched at a parliamentary reception this evening, includes nine projects which are seeking £9.5bn worth of immediate investment in total.
“These nine are just the beginning, with many more projects in our pipeline to be brought to the market this year and beyond,” the prospectus – aimed at private sector investors at home and abroad – reads.
Projects include a re-development of east London’s Millennium Mills, with investors asked to help support the Silvertown Partnership to deliver 6,500 homes.
The London Borough of Bromley is also looking to dispose of two sites in Crystal Palace Park which have received planning permission for 210 flats.
In west London, the Earls Court Development Company is seeking to secure capital partners to bring forward the first phase of a masterplan which could deliver as many as 4,000 homes and support 12,000 jobs.
Further north in Old Oak, the local development corporation is looking private sector development to build new and affordable homes around the new Old Oak Common station, and in Brent Cross, a plan masterminded by Related Argent is also in need of capital to support 6,700 homes.
East London’s Royal Albert Dock is also on the prospectus, with the Greater London Authority looking for capital partners to grab the reins of a 30 acre site next to City Airport. The dock has been branded a ‘disaster’ since being masterminded by former mayor Boris Johnson but is still 15 minutes from central London on the Elizabeth Line and well positioned for growth, the prospectus says.
Further east, in Barking, the local borough is looking to deliver the second phase of a 3,500-home development as part of the wider Barking Riverside development.
Opportunity London is backed by a host of public sector bodies as well as a raft of private sector developers and built environment companies.
Jace Tyrrell, CEO Opportunity London, said: “London is a trillion-dollar European Economy, the most diverse global city, and has pioneered innovation for over 2,000 years. We have stable political, legal, financial, and regulatory environments and consistently deliver returns for investors while deploying that capital for public good.
“Whilst London continues to be the most attractive global city in which to invest, it can also be complex to do so, and Opportunity London exists to smooth that path. Our London Investment Prospectus has the cross-party backing of every layer of Government and the private sector and sets out nearly £10 billion of investable opportunities right now. It is the very first time we have all come together in this way and the list of opportunities will only grow as we continue to engage.”
