Thirteen companies have been named on a major new property framework as part of Transport for London’s (TfL) drive to generate £3.4billion of ’non-fare’ revenue by 2023
Only three of 16 shortlisted bidders lost out: Argent, Great Portland Estates and Grosvenor.
TFL director of commercial development Graeme Craig told the AJ’s sister title Construction News only ‘one or two’ sites out of the available 50 would be brought forward in the first wave.
‘We’ll want to make sure that the first mini competition works well and then we will take the lessons from that and accelerate the pace after we have made sure the process works,’ he said.
How quickly the first two sites are then developed will depend on planning, with construction expected to begin in around a year from now, according to Craig.
The launch of the framework is part of TfL’s to make more than £3 billion over the next seven years - with a third of it expected to come from its ’property development activity’. TfL will either sell the sites to developers or work with them in joint ventures.
The sites that have been earmarked for development first include the proposed Nine Elm Tube Station, which TfL estimates will deliver 332 homes to the area. It has also submitted plans for the redevelopment of its Parsons Green Depot site in Fulham where it is already working with Maccreanor Lavington.
In addition TfL has also begun ’the process to identify development opportunities’ at Northwood.
The property framework is part of TfL’s overall property development programme, which includes another 75 sites that will be brought forward for development.
- Balfour Beatty
- Barratt Development / London and Quadrant Housing Association (Consortium)
- Berkeley Group
- The British Land Company
- Canary Wharf Group
- Capital and Counties
- U+I / Notting Hill Housing Group (Consortium)
- Land Securities Group
- Mace / Peabody Trust / DV4 (Consortium)
- Mount Anvil Group / Hyde Housing Association
- Redrow Homes
- Stanhope / Mitsui Fudosan Company Limited
- Taylor Wimpey UK
Firms that lost out
- Great Portland Estates