Two transport companies own 14,000 acres of land
Network Rail (NR) and Transport for London (TfL) have formed a partnership to deliver 20,000 new homes.
The two transport companies are among the largest landowners in Greater London and collectively own about 14,000 acres of land across the capital.
The partnership, beteen TfL’s property arm TTL and NR, will seek to ”work closely with the GLA, local boroughs, private sector investors and property companies to leverage their joint landholdings”, a spokesperson said.
NR and TTL Properties say they will take a “master planning” approach, under which locations will be provided with a framework to develop.
They said they are considering dozens of sites across London and the south-east region for new housing over the next 10 years.
Robin Dobson, group property director at Network Rail, said it is a “landmark moment” for London.
He said: ”Jointly working with local authorities, this will benefit London’s communities, and businesses to drive economic growth.”
Graeme Craig, director and chief executive of TTL Properties, added: “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.”
TTL Properties is currently building more than 1,750 homes and has already completed over 250. It expects to start on eight more sites this financial year that should deliver 2,650 homes.
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