Barratt London will work with TfL to bring forward the site by Bollo Lane in Acton which will deliver up to 900 new homes - with 50 per cent affordable housing.
- New partnership, which can also deliver further development sites in west London, is part of TfL's wider commercial development programme, building new homes that London urgently needs
- New commercial developments will generate vital revenue to allow TfL to keep the city moving and invest in safe, green and reliable public transport
Transport for London (TfL)'s wholly owned commercial property company, TTL Properties Ltd (TTLP), has announced that it has appointed Barratt London as its joint venture partner for the delivery of its site by Bollo Lane in Acton as well as a range of other potential sites in west London, subject to contract completion.
Barratt London was selected as the joint venture partner after a competitive dialogue procurement process was successfully concluded. Bidders were assessed on their technical capability and the commercial performance of their tender.
The site in Bollo Lane received the go-ahead in January 2021 by Ealing Council at planning committee to deliver up to 900 new homes in Acton - with 50 per cent affordable housing - plus a range of benefits for the local community. The scheme has been designed to reflect the site's surroundings and heritage, and provide new commercial space, which can be used by local businesses.
Alongside this, the proposal opens up public space, with green areas, play spaces, new footpaths and pavements as well as facilities to make walking and cycling safer and easier. The development will be delivered in three phases with the first phase comprising 195 build to rent homes, the second phase delivering around 450 homes and a third phase delivering around 250 homes.
Further land to the north in Acton, which could be incorporated into the partnership, could deliver a new facility for the London Transport Museum together with a further 800 homes. The joint venture partnership will also have the opportunity to develop other TfL sites across west London, helping to deliver thousands of new and much needed homes with close access to public transport.
As well as delivering new homes and public realm improvements, both TfL and Barratt London will seek to deliver new educational and job opportunities for those considering a career in the construction industry, including for those who live locally, through apprenticeships and training programmes.
Tom Copley, Deputy Mayor for Housing yesterday said:
"This new development in Acton will provide affordable housing for hundreds of families and is a great example of how TfL land can be used to deliver much needed homes for Londoners.
"The new commercial space, as well as the green spaces and new walking and cycling areas will benefit not just the new residents but all those who live and work in the area."
Jonathan Cornelius, Head of Property Development at TfL, yesterday said:
"We are excited to have appointed Barratt London as our partner to deliver our scheme by Bollo Lane in Acton, with the potential to bring forward other sites in west London in the future. This builds on our successful history of working together on Blackhorse View in east London, which will be the first of our joint venture developments to complete, and a new site by Wembley Park Tube station.
"This joint venture partnership demonstrates how we are going from strength-to-strength with our wider commercial development programme, which will see thousands of high-quality homes delivered across London alongside improvements for the local communities in the areas where we build. This partnership will also help generate vital additional revenue, which will be reinvested into the transport network and help fund a safe, green and reliable public transport network."
Gary Ennis, Regional Managing Director of Barratt London & Southern Regions, yesterday said:
"There are exciting regeneration plans in and around Bollo Lane that will see the creation of new public spaces as well as new commercial opportunities for local businesses in West London.
"The regeneration of this site will be an exciting addition to South Acton and will bring much needed new homes to the area, with 50 per cent affordable housing. Its positive impact will be felt in Acton and Ealing with the delivery of jobs and homes for local residents, as well as enabling access to open space for the wider community and those that visit the area.
"The site benefits from excellent transport links being close to three stations. Future buyers are attracted by both the great connections into central London and the amenities of the local area including the easy access to a great number of green spaces, parks and nature reserves.
"We are proud to be continuing our partnership with Transport for London following the success of our joint venture at Blackhorse View, Walthamstow and the start of construction of our site at Wembley Park."
TTLP and Barratt London are nearing the completion of their first joint venture development together at Blackhorse View, opposite Blackhorse Road station. It is delivering 350 new homes in the borough of Waltham Forest, with 50 per cent affordable housing, as well as a range of improvements for the local community such as a new public cycle hub. TTLP and Barratt London are also working together on a new development by Wembley Park Tube station, which will deliver more than 450 new homes, including 40 per cent affordable housing, a retail unit, and new operational space for TfL.
This partnership forms part of TfL's wider development activity that is being taken forward through its wholly owned commercial property company, TTLP, which - alongside new commercial office developments - will see thousands of high-quality new homes built on its land across the capital. TTLP currently has more than 3,750 homes under construction and more than 350 already completed.
Notes to Editors
- The proportions of the equity joint venture will see TTLP take a share of 49 per cent with Barratt London taking 51 as the majority stakeholder.
- Through the creation of this partnership, the joint venture company will agree to purchase interests in the sites from TfL and will then establish individual property companies for each of the potential sites. The sites will then be developed directly by the company, which is to be funded with equity and debt.
- The joint venture opportunity will consist of the development of phases 1 and 2 of TTLP's site by Bollo Lane in Acton. There is then the option in the future, subject to TTLP approval of a site specific business plan, to include the development of phase 3 of the site by Bollo Lane
- Some of the land at Ealing Common that has the potential for future development currently encompasses the London Transport Museum Depot, which stores and gives public access on open days and tours to a range of historic items including vehicles and artworks, offers operational support for heritage rail and bus operations and the Museum in Covent Garden and hosts schools and employability events. Any proposals for this land would need to enable a replacement storage facility for the London Transport Museum and accommodate the London Transport Museum's requirements.
- Further potential sites which the joint venture partnership could support across west London will be assessed on a case-by-case basis and decided upon in the future.
- Barratt London is a market-leading residential developer, with over 40 years' experience in the Capital, delivering up to 2,000 homes each year. Barratt London is committed to providing an unbeatable customer experience and developing exceptional homes for all Londoners. We have an extensive portfolio of residential developments and partnerships delivering homes across the Capital for all Londoners, from state-of-the-art penthouses in the City of London to complex, mixed-use regeneration schemes in Hendon.
- Barratt London is part of Barratt Developments PLC, the UK's most recommended housebuilder.
- Transport for London is taking forward its development activity through a commercial property company (TTL Properties) that is wholly owned by TfL, but financed independently of the transport network. The programme will see new commercial office developments and thousands of high-quality new homes, including affordable housing, built on its land across the capital as well as investment in its current commercial asset base. TTLP currently has more than 3,750 homes under construction and more than 350 already completed.
- The planning application for the site by Bollo Lane in Acton was a hybrid application, with the level of affordable housing is calculated by habitable room. The proposals also continue to provide accommodation for TfL frontline staff, which is required to keep the transport network moving. More information about the site can be found here: https://tfl.gov.uk/travel-information/improvements-and-projects/bollo-lane