The next stage in the Brent Cross Cricklewood regeneration project has begun as the London Borough of Barnet seeks expressions of interest from investors and developers who wish to work in partnership with the Council and the owners of Brent Cross Shopping Centre, Hammerson and Standard Life Investments, to deliver its largest regeneration project, Brent Cross Cricklewood.
With plans for the comprehensive regeneration of the area
boosted by planning authority approval in January 2013, the Council
now wishes to appoint a partner to lead the delivery of the
Cricklewood area – the land to the South of the North Circular
Road. It will accommodate up to 7,500 new homes, significant
commercial space, major parkland improvements and new public realm,
with dramatically improved connectivity across the area.
The Council has today published a Prior Information Notice in the Official Journal of the European Union (OJEU), notifying potential partners it intends to start the selection process for a partner in the summer of 2014. This preliminary stage allows the Council to identify interested parties so that an informed decision to commence the search for a partner can be made.
Councillor Richard Cornelius, Leader of Barnet Council, commented: “With the London property market showing strong signs of recovery, this is the perfect time for the Council to attract significant investment into Barnet. We are very excited about seeing the scheme delivered over the next few years, providing the new homes, jobs and improved community facilities residents wish to see. This initial stage will provide valuable feedback as we continue to finalise our requirements and ensure we are attracting the strongest field of partners possible.”
The Council’s joint venture company, Re, will be receiving expressions of interest over the next couple of months, before seeking Cabinet approval to commence the search in summer 2014. A 15-20 year delivery programme is envisaged with a partner being appointed during 2015 and homes being available for occupation from 2020, alongside the new environment to the North of the North Circular Road and around Brent Cross which is being delivered by Hammerson and Standard Life Investments.
Re is a joint venture between London Borough of Barnet and Capita. It provides development and regulatory services to residents in Barnet and the South East. The company formed in October 2013.
Capita Real Estate and Infrastructure work with public and private sector organisations to design, build and optimise their real estate and infrastructure assets. From thought to finish, we apply our combined expertise to achieve more from the entire built environment.
We build competitive advantage through intelligently applied real estate and infrastructure solutions and enhance our clients’ standing in a forever-changing world.