Telford Homes has planning permission to build two tower blocks with 380 apartments in total. Of these, 60% will be ‘build to rent’ and 40% will be classed as affordable.
The site is currently used as a bus layover and taxi rank for the station, on International Way. It has been sold for development by a partnership of the Department for Transport (DfT), HS1 Limited and London & Continental Railways (LCR).
The two-tower scheme will also have retail and office space across the ground, first and second floors.
The sale of the combined site on a long lease forms part of a long-term, LCR-led project to consolidate complex land interests and enable development and regeneration across Stratford City over the last 25 years. As well as overseeing the development of Westfield Shopping Centre and the Queen Elizabeth Olympic Park, LCR operated as part of a joint venture with Lendlease, which over nine years saw the development of International Quarter London (IQL) – more than one million sq ft of workspace, 333 residential units and a series of retail and community facilities.
For the DfT and HS1 Ltd (the company with the 30-year concession to operate the St Pancras to Channel Tunnel rail line) this is the first major land disposal on which they have worked together as freeholder and leaseholder. They have identified more land for redevelopment along the HS1 route – in Stratford, St Pancras, and Kings Cross.
LCR chief executive Peter Hawthorne said: “Our objective is to be ambitious in how we identify and unlock land for new homes, and the transformation of this bus layover into a new community space is a great example of how challenging brownfield sites can be developed.
“Ultimately, sustainable placemaking is about making the most of the resources – in this case land – on offer. We’re maximising our long-term partnerships with organisations across the public, private, transport and real estate sectors to bring forward land that otherwise have been too complex to develop, both in Stratford and beyond.”
Telford Homes land & planning director Jerome Geoghegan said: “Stratford is one of the most exciting places to be in London, and we’re witnessing the benefits of effective placemaking in real-time. Having developed more than 1,750 homes in the area over the last 12 years, securing the opportunity to deliver more homes for the neighbourhood means we’re able to further contribute to making Stratford a world-leading destination, as well as improving housing supply. This site is a great example of our aim to build sustainable communities and create rewarding opportunities for our partners, residents and the communities in which we build.”