"Land in Old Oak and Park Royal"
"OPDC's boundary area of Old Oak and Park Royal spans 650 hectares and a large portion of the land surrounding Old Oak station, north of Wormwood Scrubs, is brownfield and publicly-owned by central Government.
"In a pioneering approach to accelerate delivery of the largest regeneration scheme in the UK since the 2012 Olympic and Paralympic Games, the Mayor has secured an agreement in principle from Government to transfer all the public sector and central Government owned brownfield land around Old Oak to OPDC for redevelopment.
"This exciting news means that OPDC can accelerate delivery of homes and jobs in the UK’s largest regeneration scheme.
"The hard work will now begin as the Corporation goes through the fine details to fully secure the land transfer for this relatively unknown area of west London."
"What's the deal and who's it with?"
"OPDC is set to become the lead developer for Old Oak and Park Royal in west London and will deliver the largest regeneration scheme in the UK since the London 2012 Olympic and Paralympic Games.
"In a pioneering approach, the Mayor has secured an agreement in principle from Government to transfer all public sector and central Government owned brownfield land around Old Oak to OPDC for redevelopment. This land surrounds the HS2 and Crossrail station super-hub, which is set to open in 2026.
"The announcement in principle secures OPDC's proactive approach to be innovative, open for business and set on achieving the coordinated regeneration of the whole Old Oak and Park Royal area. Over the next 30 years, OPDC will ensure that benefits from HS2 and Crossrail are maximised and the delivery of 25,500 new homes and 65,000 new jobs is achieved.
"The agreement in principle is to deliver the UK’s largest regeneration opportunity and is a deal between Central Government, the Mayor of London and OPDC - the Mayor’s second Mayoral Development Corporation (MDC)."
"What land and how much?"
"A large portion of the land within OPDC's boundary area of Old Oak and Park Royal is brownfield and up until now publicly-owned by central Government. The large portion of land surrounding the Old Oak Station area, north of Wormwood Scrubs (the land coloured blue in the image) is the land that the Government has agreed in principle to transfer to OPDC.
"The total boundary area under OPDC's control is 650ha and the core development area of Old Oak is 134ha. Of this, the public sector owns, and is now releasing, 97ha which equates to approximately to one hundred football pitches.
"This land transfer is the outcome of the earlier commitment made by the Chancellor in the 2015 Autumn Statement to bring all central Government publicly-owned land around the new Crossrail and HS2 station into single control. This new approach was then taken forward and announced as part of the 2016 Spring Budget.
"This innovative approach to land ownership was welcomed by the Mayor as it will give OPDC full planning and development control to drive forward the UK's largest regeneration site and create a brand new, thriving part of the capital with 25,500 homes and 65,000 jobs, as outlined in the Opportunity Area Planning Framework (OAPF). This pioneering approach is also important for creating sufficient land and development receipts to fund the area's infrastructure needs.
"The OAPF guides the creation of distinctive character areas within the masterplan boundary. For example, the area of Old Oak South, comprising of land between the Grand Union Canal and Wormwood Scrubs, is envisaged to become a new town centre serving the wider area and is also set to act as a major commercial quarter for London. All of the land in this area is currently publicly owned and much is currently being used operationally for railway maintenance and depots.)"
What will the land transfer mean?
"Currently, there are various public bodies with land interests immediately surrounding the HS2 and Crossrail station at Old Oak. Once the land transfer is complete, the master-planning for a new commercial and residential area around the station will be considered comprehensively by a single organisation, OPDC. This will include all the associated economic and financial benefits, massing, permeability and phasing of development.
"The transfer of this land, will provide certainty over the speed at which the development can happen. The publicly-owned land, which is due to be transferred totals 97ha, which equates to approximately one hundred football pitches. The development capacity of this area is 12,000 homes and over 46,000 jobs, which is 74% of the total combined housing (25,500) and job (65,000) outputs anticipated for the whole site.
"By transferring the land to OPDC a number of assets will be pooled to create a single strategic entity that has land assembly, town planning and infrastructure delivery powers. This combination will increase the ability to achieve the full potential of the area, particularly the delivery of the overall vision for the area."
"What are the benefits?"
"The final agreement to transfer central Government land holdings to the OPDC will:
- allow OPDC to use its planning, development and regeneration powers in a coordinated way and to channel the full expertise of OPDC, GLA and TfL into delivery of the regeneration project, creation of the much needed homes and jobs that London needs and Londoners deserve, and the growth of the city;
- give clarity and certainty to investment and development partners and the public, on total land ownership and delivery of the vision;
- ensure local accountability, understanding and market knowledge garnered through the OPDC’s on-the-ground expertise and relationships; and
- provide a route for OPDC to capture downstream value and cross-subsidise delivery of the infrastructure necessary to underpin the development and growth of this part of the city, London and the UK."
"What happens next and what to do if you’re interested?"
"In light of the land announcement, the following projects will be ongoing over the next two-and-a-half-years:
"If you're interested to find out more, you can get in touch with the OPDC team by signing up to our newsletter, following us on social media or emailing us firstname.lastname@example.org."
- OPDC to undertake detailed due diligence work to enable smooth transfer of the government owened land
- OPDC to work with HS2 on the station design and maximise opportunities for over station development
- OPDC to investigate potential for capturing future business rate uplift (e.g. tax, increment financing)
- OPDC to develop a detailed masterplan, infrastructure plan and funding strategy
- OPDC to work towards securing outline planning consent for in 2018/19
- OPDC to secure development and investment partners.