Thirteen companies have been named on a major new property framework from Transport for London’s drive to generate £3.4bn of non-fare revenue by 2023.
The firms, including Balfour Beatty, Canary Wharf Group and Mace, will now be able to bid to develop sites brought forward by TfL.
Only three of 16 shortlisted bidders lost out: Argent, Great Portland Estates and Grosvenor.
TfL director of commercial development Graeme Craig told Construction News that only “one or two” sites out the available 50 would be brought forward in the first wave.
“We’ll want to make sure that the first mini competition works well and then we will take the lessons from that and accelerate the pace after we have made sure the process works,” he said.
How quickly the first two sites are then developed will depend on planning, with construction expected to begin in around a year from now, according to Mr Craig.
The launch of the framework is part of TfL’s drive to generate £3.4bn of non-fare revenue by 2023. TfL will either sell the sites to developers or work with them in joint ventures.
The sites that have been earmarked for development first include the proposed Nine Elm tube station, which TfL estimates will deliver 332 homes to the area. It has also flagged Northwood, Parsons Green, South Kensington and Southwark as sites ready for development.
The property framework is part of TfL’s overall property development programme, which includes another 75 sites that will be brought forward for development.
- Balfour Beatty
- Barratt Development / London and Quadrant Housing Association (Consortium)
- Berkeley Group
- The British Land Company
- Canary Wharf Group
- Capital and Counties
- U+I / Notting Hill Housing Group (Consortium)
- Land Securities Group
- Mace / Peabody Trust / DV4 (Consortium)
- Mount Anvil Group / Hyde Housing Association
- Redrow Homes
- Stanhope / Mitsui Fudosan Company
- Taylor Wimpey UK
Firms that lost out
- Great Portland Estates