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Argent and its partner Related will be recommended to Barnet Council’s key regeneration committee as the Council’s long term development partner on the 78 hectare Brent Cross South scheme. Argent is best known in London for its work on the redevelopment of Kings Cross.
The scheme sits alongside Hammerson and Standard Life’s redevelopment of the Brent Cross Shopping Centre.
Gateway Barnet, (Far East Consortium, Countryside Properties, Notting Hill Housing Trust and Southern Grove), has been identified as reserve bidder.
The Brent Cross South scheme will provide 7,500 homes and space for over 20,000 jobs supported by a new Thameslink station on the site. This is on top of 3,000 new jobs created by the redevelopment of the shopping centre. The scheme already has outline planning permission as part of the wider Brent Cross Cricklewood development.
The recommendation, which follows assessments based on the development teams’ financial capacity, place-making skills and the quality of the team delivering the project, will go before the Council's Assets Regeneration and Growth Committee on March 3 before ultimate ratification from Barnet Council that evening. All four shortlisted developers made presentations to council members, officers and key stakeholders ahead of the final decision.
The council has been searching for a development partner to work in a joint venture with the council on the Brent Cross South scheme.
Councillor Richard Cornelius, Leader of Barnet Council, said: “I have always said that this council had no intention to ‘take the money and run’. We are looking for a long term partner to work with the council to create a thriving town centre, making the most of the transformed shopping centre and getting the best deal for local residents.
“We want to create a real model for a 21st century suburb at Brent Cross - a neighbourhood not a dormitory. We will need a thriving modern high street that complements the shopping centre, a mix of housing and space for employment and education to produce a proper neighbourhood, busy and active throughout the day.
“We had four excellent proposals from a mix of UK and international teams. What shone through in the proposal from Argent Related was that they had a long term vision for Brent Cross South, had clear views on how that vision would be supported over time and knew how to make the best of a transformed shopping centre.
“They have already shown with their schemes at Kings Cross and Brindleyplace that they can produce great places that generate jobs and support high quality homes. The character of Brent Cross South will obviously be very different but Argent Related have shown how they will work with the Council to create something that will bring lasting benefits for generations of Barnet residents to come.”
Sir Edward Lister, Deputy Mayor of London for Planning said: “This is a crucial step as we look to transform Brent Cross Cricklewood into one of the premier places to live, work and visit in the capital. London is now home to more people than ever before and this scheme is absolutely crucial to the city’s sustainable growth as it has the capacity to deliver thousands of new homes and jobs through major improvements to transport infrastructure. We have been working closely with Barnet Council to secure investment in a new Thameslink station at Brent Cross that will bring the area within 12 minutes of central London and are also looking to create a pleasant environment in which to walk or cycle. I look forward to seeing this vitally important part of London transformed over the coming years.”
The Council is being supported in the selection of a partner by Capita’s real estate division and lawyers Wragge Lawrence Graham.
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.