Plans to transform one of the most deprived parts of London into a thriving new district with up to 24,000 new homes and more than 55,000 jobs have moved a step closer.

At the international MIPIM property conference, the Deputy Mayor for Planning, Sir Edward Lister, announced that City Hall is about to enter detailed negotiations with three local authorities in order to create a Mayoral Development Corporation (MDC) that will drive the comprehensive regeneration of a 195 acre semi-industrial site at Old Oak Common, West London. This follows Mayor Boris Johnson’s keynote speech at MIPIM earlier this week.

The Mayor's office has now published draft key objectives and powers for the MDC, together with its proposed boundary. The Mayor’s team will shortly meet with Hammersmith & Fulham, Brent and Ealing councils in order to agree these details so that the MDC can best maximise the enormous benefits that are linked to the construction of a 'super hub' High Speed 2 (HS2) and Crossrail Station that is due to be constructed by 2026.

Research from the Mayo's Office indicates that the regeneration scheme could be worth up to £6.2 billion for the London economy, with the potential for Old Oak to supply up to 2.5 per cent of the Greater London housing requirement and almost 14 per cent of Greater London’s employment need up to 2031.

-- Advertisement --

The Mayor of London, Boris Johnson, said: "The arrival of Crossrail and HS2 will lead to the creation of an entirely new city quarter for London, if we get the design and transport links right.

"By working with the three local authorities, we will be able to best maximise this once-in-lifetime opportunity to spark widespread economic and social regeneration to a part of the city that is in desperate need of major improvement. This advance planning will ensure we generate significant benefits for Londoners especially for people in the local area, which includes much needed new homes and jobs."

The MDC will look to unlock the enormous regeneration potential of Old Oak Common in a targeted approach to emulate the success of the London Legacy Development Corporation that continues to lead the post-Olympic regeneration of Stratford and East London.

The proposed HS2 / Crossrail station will be the same size as Waterloo, with the capacity to handle 250,000 passengers a day, and link the two largest infrastructure projects in the UK. It would also have direct access to Europe via HS1 (Eurostar), with Paris just over two hours away. To support the development, it is critical that improved links to the London Overground and the West Coast Main Line are made – a case that TfL is making to HS2. Five of the nation’s airports will be linked to the high-speed rail network for the first time through the Old Oak interchange. Central London and Heathrow will be just 10 minutes away, Birmingham will be 40 minutes direct from Old Oak and Luton, Gatwick and City Airport will all be within 45 minutes. In addition, if the Government decides to move Heathrow to a new hub to the east of London, there will be a direct connection from Old Oak via the HS1 link in less than 30 minutes.

(CD/MH)