Last week Network Rail and Transport for London (TFL) announced their plans to join forces and develop over 20,000 new homes over the coming decade. The joint transport bodies own over 133,500 acres of land and will use their separate estates to build new homes.
Network Rail has formed a strategic partnership with TFL’s property company TTL, to deliver regeneration and development across Greater London. The plan is the first of its kind between the two organisations in order to address London’s housing crisis.
“ A significant proportion of the 20,000 homes are estimated to be delivered within 10 years and will include dozens of new sites across London and the South East.”
The two organisations are the largest landowners in Greater London, although a large proportion of the land is currently occupied by stations, offices and outlets. The companies state their portfolio includes a vast quantity of brownfield sites.
Network Rail’s Director, Robin Dobson states; “This is a landmark moment for the capital, to see our two organisations build a partnership together. Jointly working with local authorities, this will benefit London communities and businesses to drive economic growth. We look forward to working closely with key stakeholders to accelerate development delivery which over the coming decade will provide a positive impact for the region.”
TTL Properties chief executive Graeme Craig: “As two of the most significant landowners in London, it makes perfect sense for our organisations to work together. We are looking to combine our efforts to deliver more homes, with a focus on affordable housing, and with great social impact that benefits local communities as well. We are fully focused on the extensive potential that our partnership will unlock as our teams begin to work together on improving the capital for all.”
The partnership will deliver improvements to both Network Rail and TFL stations whilst prioritising low-carbon construction methods.