Old Oak redevelopment ‘at risk’ without investment
No new investment into west London’s Old Oak and Park Royal redevelopment could see the area miss out on regeneration, the head of the body planning the work has said.
Old Oak and Park Royal Development Corporation chair Liz Peace said the body does “not have the financial muscle” it needs to complete the major regeneration that has been planned around the recently approved HS2 and Crossrail Old Oak Common station.
At a Westminster Forum online conference, she said: “We can’t do any of what we want to do on our own. We need to work very closely with the local authorities, and we also need to work closely with the owners of the public sector land, HS2, Network Rail, TfL and the Great Western Railway.”
The potential regeneration site spans 650 hectares and the plan was for it to deliver 25,000 new homes. The corporation was locked in a legal battle last year with used-car dealership firm Cargiant. It had wanted to use land owned by Cargiant as part of its development, but following an examination by the Planning Inspectorate on the viability of the Cargiant land for use, the corporation has had to redesign its plans. Because it is no longer including the land, the scheme lost out on a planned £250m grant from the Housing Infrastructure Fund.