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News » UK » London mayor signs off £175m Oaklands development » published 4 Aug 2016

London mayor signs off £175m Oaklands development

Work has been cleared to start later this year on a £175m regeneration project in west London that will deliver 605 new homes.

The Oaklands development Above: The Oaklands development

Mayor of London Sadiq Khan has given final approval to plans for the first major housing development at the Old Oak regeneration site in London, after intervening to boost the number of affordable homes in the scheme.

The Oaklands project also involves the construction of a new link road from Old Oak Common Lane into the site, opening up the wider area to regeneration. 

Demolition of the existing site buildings will start later this year and construction work on this phase is expected to take three years to fully complete. 

The application was approved by the Old Oak and Park Royal Development Corporation, the organisation that has planning control over the Old Oak regeneration site, on 13th July 2016 [see our previous report here] and subsequently went to the mayor for sign-off.

Planners reckon that Old Oak and Park Royal have the potential for 25,500 new homes over the next 30 to 40 years, as well as becoming a key transport interchange for Crossrail and HS2.

Sadiq Khan said: “The scale and ambition for this development shows London is very much open for business. Despite the uncertainty caused by the UK’s vote to leave the European Union, it remains clear that developers and investors see long-term potential in our great city.”

The developers are Genesis Housing Association and Queens Park Rangers Football Club (QPR).  QPR has other strategic land interests in Old Oak and would like to build a new stadium as part of the wider development, providing a new home for the club. 

Genesis chief executive Neil Hadden said: “We are delighted that the redevelopment at Oaklands, in one of Hammersmith and Fulham’s most important regeneration sites, has been approved. We will now be able to provide hundreds more affordable homes for Londoners on a once derelict site. Partnerships such as the one we have with QPR enable us to invest, not only in building new homes, but in developing new communities.”

QPR co-chairman Tony Fernandes said: “We are delighted that the Mayor has granted planning permissions for the Oaklands development, including hundreds of affordable homes for Londoners. Along with our development partners Genesis Housing Association we look forward to creating this new neighbourhood, building a sustainable community where people can live, work and play. We are committed to bringing forward other development sites in Old Oak as soon as possible to create the homes that London desperately needs.“

Of the 242 affordable homes, half will be for social and affordable rent, with the other half being for shared ownership.

 

 

 

 

 

MPU

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This article was published on 4 Aug 2016 (last updated on 4 Aug 2016).

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