London Investment Prospectus includes projects for infrastructures, transports and students accommodation
On 11 March, Tuesday, London mayor Sadiq Khan presented London Investment Prospectus (LIP) at Cannes MIPIM. The programme outlines 20 investment opportunities in the city worth a total of 22 billion GBPs in the sector of infrastructure, new housing, build-to-rent properties, student accommodation, office buildings, logistics, entertainment, and life sciences properties (press release).
“I am attending the MIPIM real estate conference to beat the drums on behalf of London, seeking new investments for the capital that will help us accelerate the delivery of affordable homes and unlock new infrastructure and jobs in our city,” Khan said.
The LIP highlights that Network Rail, the largest industrial landowner in the UK, offers four development opportunities. These include Bow Goods Yard, the latest parcel of land released after London 2012 Olympic and Paralympic Games. The authorities already provided planning permission for a 3 million sqms development of logistics assets, warehousing/industrial real estate, a leisure neighbourhood with public areas, as well as an opportunity for a data centre.
Network Rail also signed a partnership with Transport for London aimed at ensuring Liverpool Street, Britain’s busiest station, can meet the city’s future demand, as well as creating a new landmark for offices and shops. LIP also says that future projects in Waterloo and Victoria will require partners.
Further to transport hubs, the mayor is seeking investments for creating thousands of new homes and jobs on key sites that belong to Greater London Authority. For such a reason he is looking for a partner to develop a new mixed-use project at Royal Albert Dock, a key part of the Khan’s wider plans to deliver 36000 new homes and 55000 new jobs in the area. Old Oak and Park Royal Development Corporation (OPDC) will also supervise a partnership for a long-term development and investment aimed at making available 9000 homes and 11000 jobs.
The mayor also aims to attract private capitals to enable the implementation of London’s next priority transport projects: the extension of the Bakerloo Line and of DLR lines to Thamesmead and the creation of West London Orbital.
