TfL Announces Framework Development Partners
Transport for London (TfL) has approved the appointment of 13 major property development companies and consortiums to a development framework which will help the delivery of the thousands of homes, offices and retail spaces that are vi-tal to help London meet the needs of its growing population.
The 13 organisations have been selected following a competitive procurement process that saw over 50 companies reg-ister an interest in becoming a property partner with TfL. The successful companies and consortiums will now be placed on TfL's Property Partnership Framework and will be able to bid for work on some of the most iconic locations across the Capital.
The 13 companies and consortiums selected are:
- Mace Limited / Peabody Trust / DV4 Limited (Consortium)
- Balfour Beatty PLC
- Barratt Development PLC / London and Quadrant Housing Association (Consortium)
- Berkeley Group PLC
- The British Land Company PLC
- Canary Wharf Group PLC
- Capital and Counties PLC
- U+I / Notting Hill Housing Group (Consortium)
- Land Securities Group PLC
- Mount Anvil Group Limited / Hyde Housing Association Limited
- Redrow Homes Ltd
- Stanhope PLC / Mitsui Fudosan Company Limited
- Taylor Wimpey UK LtdThis framework will enable TfL to work in joint ventures with some of the best developers in the market to deliver the thousands of homes, retail and office spaces that London needs more efficiently than procuring a joint venture develop-ment partner on a site by site basis. The wider GLA family will also be able to use the framework to bring forward devel-opments on their sites.
The Property Partnership programme is part of TfL's ambitious plans to generate £3.4bn in non-fares commercial reve-nue by 2023 which it will reinvest in London's transport network. It is just the first phase of TfL's property development programme which will see thousands of affordable homes built across the Capital.
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."
