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Tuesday 14 May 2024

Innova Partnership secures eight central London sites for development

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Innova, the partnership between Network Rail Property (NRP) and a UK subsidiary of IJM Land Berhad, have secured the opportunity to promote and develop eight sites across four London boroughs: Brent, Camden, Islington and Westminster.

The sites are all located in Central London and its inner suburbs and are situated above or adjacent to the railway. The sites have the potential to deliver up to 320,000m² of development including a mix of housing, life sciences, student housing and a variety of commercial uses. In the region of 1,600 new homes could be created and the estimated gross development value of these projects is in excess of £3billion.

The Innova partnership established last year, aims to develop mixed-use schemes on brownfield land. IJM has already successfully delivered a 150m deck above the DLR lines at Tower Hill at Royal Mint Gardens and are currently embarking on the final phase of the 650,000 sq ft over rail mixed-use project which has already delivered 36% affordable housing.

Innova is now taking forward eight sites to follow in the footsteps of Royal Mint Gardens, with detailed infrastructure and enabling design works are currently underway. Consultation and engagement with key stakeholders and planning authorities on the regeneration schemes will take place during 2024. Enabling works and over-site construction will start as soon as possible after planning.

Robin Dobson, Group Property Director for Network Rail commented: “This is another milestone in our continued investment into delivering infrastructure-led regeneration projects in the capital. These are complex sites and working together we are bringing forward sites that have previously appeared undevelopable. With the blend of IJM’s and NRP’s experience we have ambitious regeneration plans for multiple sites for this partnership.”

Lee Chun Fai, Group CEO of IJM Corporation Berhad, added: “We are fully committed to this partnership and are embracing the opportunity to work with Network Rail and stakeholders across London. We hope to maximise the invaluable experience we have already gained in delivering challenging rail interface projects.”

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