Transport for London - which last year admitted it may enter the fast-emerging Build To Rent sector - has listed 13 property firms with which it is entering into development deals.
TfL is one of the largest landowners in the capital with assets ranging from Zone 1 locations such as London Bridge and Oxford Circus to sites in Zone 6 areas, such as Northwood. In total, TfL owns around 5,700 acres.
The new panel of 13 companies will be those with which TfL enters into proposals (commercial as well as residential) to generate £3.4 billion in non-fares commercial revenue by 2023.
Its first announcement is that it will release 300 acres of land, all near existing stations, for possible development.
“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” says a TfL spokesman.
The 13 companies and consortiums include Barratt Homes, Berkeley Group, Notting Hill Housing Group, Peabody Trust, Redrow Homes and Taylor Wimpey.
TfL has already begun the process to identify development opportunities for the partnerships by submitting planning applications in Nine Elms, Northwood and Parsons Green. It is anticipated that the three sites will generate over £100m for reinvestment in London's transport network as well as delivering more than 600 new homes and other developments.