Posted on 10 February 2016
Transport for London (TfL) has selected the Hyde Group to join its Property Partnership Framework and help deliver thousands of London homes, offices, retail spaces and jobs.
Working with Mount Anvil, the Hyde Group was one of just four registered providers selected onto the final panel, following a competitive tender process involving more than 50 organisations.
The successful companies and consortiums will be able to bid for work on some of the most iconic locations across the Capital.
TfL has already submitted planning applications in Nine Elms, Northwood and Parsons Green. It is anticipated that the three sites will deliver more than 600 new homes, new workspaces, retail units and high quality public spaces. The three sites will directly support the creation of more than 500 new jobs and are expected to create more than 2,500 indirectly.
Through the panel, TfL will bring forward 300 acres of land for redevelopment accounting for 75 sites, in just the first phase of the venture. The wider GLA family will also be able to use the panel to bring forward developments on their sites.
David Gannicott, Group New Business Development Director, the Hyde Group said: “We are delighted to be selected as a TfL Property Partner and look forward to working together in delivering the thousands of homes that London so desperately needs. The Hyde Group has a 50 year history of building and managing award winning homes in London and reinvests its profits into building more. The potential to do this on TfL land whilst also raising long term revenue for future transport projects in the Capital is a true win-win”.
Graeme Craig, Director of Commercial Development at TfL, said: "After an extremely competitive process, we have appointed a selection of leading development organisations that we will work with to bring forward thousands of much needed homes, along with commercial space and jobs that will help support the Capital's continued growth. The 300 acres of land we have announced for development is just the first phase. We are currently reviewing our assets to see how many more sites we can develop, especially in outer London, to provide homes that Londoners can afford while also generating revenue that can be reinvested in the transport network.
"This framework marks a major step forward in allowing us to work with leading private sector developers and housing associations on an important part of our portfolio."
The proposed development above the new Nine Elms Tube station will deliver 332 new homes around 25% of which is proposed to be affordable, 5,332 sq metres of office, 612 sq metres of retail, a new public square, play space, pedestrian and cycle connections, cycle parking, and disabled car parking. Revenue generated from the new development will support the funding of the Northern Line extension.
The proposed development at Northwood will deliver 127 new homes, around 20% of which will be affordable, as well as a new Tube station with step-free access and a new bus and train interchange. It will also deliver a new public space and approximately 300 parking spaces, as well as 1,240 sq metres of retail floor space. TfL is exploring options to accommodate existing tenants in the development and is providing relocation options to assist them in continuous trade.
The proposed development is on the site of a former London Underground depot adjacent to Parsons Green Tube station, which is currently used as workspace. The scheme will deliver 119 new homes, 40% of which will be affordable, as well as over 5,100 sq metres of retail, workspace and restaurants. The development will also support around 300 jobs and enable the opening of three arches for commercial use.