Developer named preferred partner for north London work
Lendlease has been formally approved as Haringey council’s preferred partner for a development vehicle targeting the delivery of 5,000 homes and taking in more than 20 sites across the north London borough.
Haringey aims to deliver £2bn of new development – measured in 2015 prices – over the next 15-20 years, including the redevelopment of the Northumberland Park estate, Wood Green Library as well as its offices in Wood Green (pictured).
Another site earmarked for redevelopment is Haringey Civic Centre where protesters gathered ahead of a cabinet meeting last month to complain that the partnership represented the privatisation of council housing.
The confirmation of Lendlease follows a selection process in which the firm saw off competition from a pairing between Morgan Sindall and housing associations Affinity Sutton and Circle and a third team comprising housing groups Pinnacle, Catalyst and US finance firm Starwood Capital.
Alan Strickland, Haringey’s cabinet member for housing, regeneration and planning, insisted that the 50:50 joint venture company would not pave the way for “mass demolitions” of estates and that the council would have control over the phasing of land releases.
He added: “A 50:50 partnership approach means we stay in control over how council land is developed while sharing the profits, which can go back into further regeneration, affordable housing and funding the services we provide to residents.”
The pair will now spend the next few months sorting out the details of the deal with it due to be formally signed this July.
Lendlease, whose construction arm will build BIG and Heatherwick Studio’s Google offices at King’s Cross in north London, is currently regenerating the Elephant & Castle district in the Southwark area of the capital.