Harrow Council launches £2bn joint venture
Harrow Council is seeking a development partner in a £2bn contract to develop a number of sites around Wealdstone town centre.
It has appointed Avison Young to launch an OJEU procurement for a 50:50 joint venture with initial development comprising a £750m project to deliver 1,500 homes and 100,000 sq ft of mixed-use commercial space, including the reprovision of the civic centre.
The jv will allow for future additional development in the region as part of a strategic partnership expected to last up to 20 years.
Harrow Council is seeking a development partner in a £2bn contract to develop a number of sites around Wealdstone town centre.
It has appointed Avison Young to launch an OJEU procurement for a 50:50 joint venture with initial development comprising a £750m project to deliver 1,500 homes and 100,000 sq ft of mixed-use commercial space, including the reprovision of the civic centre.
The jv will allow for future additional development in the region as part of a strategic partnership expected to last up to 20 years.
Harrow Council will launch the partnership next week and will seek to create a shortlist of five parties, with the final partner selected by April 2020.
Kim Grieveson, director at Avison Young, said: “The real focus is on regeneration around Wealdstone town centre. It’s an area that has suffered from under-investment.
“The council will be looking to maximise its land holdings by putting them into the vehicle and it is looking for a developer with expertise at masterplanning, placemaking and delivery. The impetus for change is critical.”
She said the £2bn contract allows for the flexibility to extend the partnership and development opportunities.
Grieveson added: “If the vehicle performs well and is a good conduit for regeneration then the council might seek to develop future opportunities. We have three core sites, which is very much the immediate key, but the wider potential is huge. ”
The first phases of development will focus on the regeneration of three main sites close to Harrow & Wealdstone station, which the council has been looking to redevelop for a number of years.
It includes 11.4 acres at Poets Corner to replace the existing 1960s council civic centre (pictured) with a new urban quarter of around 1,000 homes to the south.
Additional high-quality homes would be delivered at a second site spanning 3.7 acres at Byron Quarter on the border of the recently revamped leisure centre overlooking Byron Park. There is also the potential for further development of the wider Byron Quarter site at a later date.
The third site is a 1.4-acre car park at Peel Road, which has been earmarked for development of the new civic centre. This will be a requirement of early development but the location is flexible.
The council has begun preparatory works on the sites, as well as creating initial designs and planning after announcing plans for major regeneration in 2015.
Keith Ferry, deputy leader of Harrow Council and portfolio holder for regeneration, said: “It’s time for us to get building. We’ve put in the hard yards here at the council and now we have cabinet approval and public support for a dynamic mix of development across some of the best sites that Harrow has to offer.”
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