Lendlease preferred for £2bn Haringey jv
Lendlease has taken the lead in the race to become Haringey Council’s development partner for the £2bn Haringey Development Vehicle.
The council’s advisers GVA and Turnberry Real Estate recommended the developer, and a decision on whether it will become the council’s preferred partner is to be made on 14 February.
Lendlease has taken the lead in the race to become Haringey Council’s development partner for the £2bn Haringey Development Vehicle.
The council’s advisers GVA and Turnberry Real Estate recommended the developer, and a decision on whether it will become the council’s preferred partner is to be made on 14 February.
The HDV will lead one of the UK’s largest regeneration programmes. Over the next 15-20 years, the 50:50 partnership will redevelop a number of sites across the borough into at least 5,000 homes and a new town centre.
The sites include the Wood Green Estate, Haringey Civic Centre, Station Road offices, Northern Northumberland Park Regeneration Area and a commercial portfolio comprising 146 assets valued at around £48m.
The original shortlist was announced at MIPIM last year and included Galliford Try with Home Group; Morgan Sindall with Circle and Affinity Sutton; Pinnacle with Starwood Capital and Catalyst Capital; Places for People; and Urban & Civic.
Haringey Council leader Claire Kober said: “Growth is at the heart of our ambitions for Haringey and we aim to create thousands of new houses and jobs to give Haringey residents the opportunity to prosper and to enjoy their own home.”
She added: “Approving Lendlease as the preferred bidder for the project is a critical and exciting step towards delivering the jobs and homes that Haringey needs.”
What else is on the cards for LendLease?
Last September Lendlease brought Brit Jonathan Emery back from Australia to become managing director of property for Europe.
In Australia he was managing director of urban regeneration, which included heading the company’s transformational 18.5-acre Barangaroo regeneration project in Sydney.
The move was prompted by the opportunity that the company sees in London and in particular the trend of councils and the public sector to be more active in redeveloping key assets.
As well as having clinched this mandate with Haringey, it has also been named on a shortlist by the council to redevelop the £1bn, 27-acre High Road West Estate, N17, which will deliver 1,400 homes and is in the running for the 32-acre Winstanley and York Road estates, SW18, plans for which include more than 2,000 homes.
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