Innova, the partnership between Network Rail Property (NRP) and a UK subsidiary of IJM Land Berhad, have secured the opportunity to promote and develop eight sites with a gross development value of more than £3bn across four London boroughs.
The sites in Brent, Camden, Islington and Westminster, which are all situated above or adjacent to the railway, have the potential to deliver up to 320,000 sq m of development including a mix of housing, life sciences, student housing and a variety of commercial uses.
Circa 1,600 new homes could be created on the sites by the partnership, which was established last year to develop mixed-use schemes on brownfield land.
Detailed infrastructure and enabling design works for the sites are currently underway. Consultation and engagement with key stakeholders and planning authorities on the regeneration schemes will take place later this year.
Robin Dobson, group property director at Network Rail said: “This is another milestone in our continued investment into delivering infrastructure-led regeneration projects in the capital. These are complex sites and working together we are bringing forward sites that have previously appeared un-developable. With the blend of IJM’s and NRP’s experience we have ambitious regeneration plans for multiple sites for this partnership.”
Lee Chun Fai, group CEO of IJM Corporation Berhad, added: “We are fully committed to this partnership and are embracing the opportunity to work with Network Rail and stakeholders across London. We hope to maximise the invaluable experience we have already gained in delivering challenging rail interface projects.”
