Camden confirms partners for £500m Knowledge Quarter scheme

Camden council has confirmed that Ballymore and Lateral will act as joint development partners to deliver a £500m mixed-use scheme at Camley Street and Cedar Way, N1. The process to procure a development partner was launched more than a year ago.  The project forms a key part of Camden’s community investment programme. It will be split across two sites, delivering about 350 homes, 170 of which will be affordable, and more than 200,000 sq ft of commercial space for light industrial, life sciences, technology and digital industries. The scheme will build on the existing growth initiatives in the area and create new public open spaces, shops, cafés and improved pedestrian and cycling routes linking to King’s Cross Central and Camden Town. Nasrine Djemai (pictured), cabinet member for new homes and community investment at Camden Council, said: “We’re getting on with building the new energy-efficient family-sized homes that are desperately needed and creating the employment space which will help Camden’s Knowledge Quarter continue to grow and provide the good, well-paid work our residents need. “Over the past few years, Camden council has worked with residents and businesses nearby to shape a shared vision for Camley Street. We will work in partnership with Ballymore and Lateral to ensure they are committed to the same level of engagement and co-working with residents and businesses as we are. Their expertise and experience will help us move forward more quickly with this exciting project.” Ballymore and Lateral will now form a joint venture and will work with the council, local residents and businesses to develop these plans before submitting a planning application during the second half of 2025. The jv would then acquire the 2.4-acre Cedar Way Industrial Estate on a long leasehold, while the  council will deliver affordable housing and affordable commercial space on the 1.2-acre Camley Street site. John Mulryan (left), managing director at Ballymore, said: “Camley Street presents opportunities for both the borough of Camden and London as a whole. It is a site which has potential, and its success will rely on effectively connecting into the Knowledge Quarter ecosystem, ensuring the benefits are accessible to all and reach far and wide.” Rob Beacroft (right), co-founder at Lateral, added: “At Lateral, our science and technology developments are driven by a needs-led approach, ensuring we identify opportunities to attract and support the right occupiers across every stage of their innovation journey. “This partnership will not only deliver new homes and science and technology space but also create long-term, sustainable opportunities for residents, industry, healthcare and academia, fostering innovation and collaboration at every level.”