Network Rail has partnered with Transport for London’s real estate arm, TTL Properties, to deliver new homes across “dozens” of brownfield sites across the capital and the wider South East region.
The agreement is the first of its kind between the organisations. Between them, they are seeking to deliver more than 20,000 new homes on their estates over the next decade. That ambition will be supported by the new partnership.
The pair, which are among the largest landowners in Greater London, collectively owns almost 14,000 acres of land across the capital. There are more than 600 stations between them, in addition to extensive retail, office and operational portfolios.
While a significant proportion of their portfolios are operational, the duo said there were brownfield opportunities across London boroughs and surrounding counties that they want to unlock.
Improvements to NR and TfL stations and services will also be delivered through development, so that transport destinations continue to drive economic benefits in local areas. Developments will be designed to be in keeping with the local environment and heritage, and aim to use modern, low-carbon construction methods.
The partnership will work closely with the GLA, local boroughs, private sector investors and property companies to leverage their joint landholdings.
The duo said the partnership will use a masterplanning approach that can “meet the changing needs of how communities live and work”. The programme intends to deliver positive social impact for local communities through new jobs and construction skills training schemes.
Robin Dobson, group property director at Network Rail, said: “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’s 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.”
Graeme Craig, director and chief executive of TTL Properties, said: “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.”
Network Rail owns, operates and develops Britain’s railway infrastructure including 20,000 miles of track, 30,000 bridges, tunnels and viaducts, in addition to running 20 of the UK’s largest stations while the remainder – tallying more than 2,500 – are run by the country’s train operating companies.
TTL Properties’ pipeline includes more than 1,750 homes as well as commercial office developments. More than 250 homes are already completed. Work is forecast to start this financial year on eight additional sites that will deliver a further 2,650 homes.
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