THE developer behind King’s Cross, central London, and its American partner are in line to clinch a big redevelopment deal in Tottenham, north London, which was badly scarred by the riots of 2012.
Argent and Related Companies are close to an agreement to build 2,000 homes in Tottenham Hale in conjunction with Haringey council, according to government sources. Argent’s former owner, the BT Pension Scheme, is expected to participate as it owns a shopping park near the station that will be knocked down and turned into a town centre-style retail hub.
Boris Johnson, the mayor of London, has earmarked Tottenham as an area ripe for rebuilding. The capital needs more than 56,000 new homes a year, based on National Housing Federation estimates — three times the number built last year. In a recent document setting out plans for Tottenham’s regeneration, Johnson described it as “brimming with opportunity and ripe for investment”.
Argent could not be reached for comment.
In an interview with The Sunday Times last week to announce its joint venture with Related, which is behind the mammoth Hudson Yards scheme in New York, Argent’s managing partner David Partridge said there was “simply not enough supply” of homes priced between the affordable and luxury tiers. He said London needed “intermediate, accessible, rental, first-time buyer [properties] — where you can provide products at prices that are quite eye-watering when you look back 10 years but are still achievable for young families.”
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Last month Argent and Related were picked to build 7,500 homes near Brent Cross in north London. They also intend to put in a proposal for the redevelopment of Euston station in the capital.