Plans for the development of a £470m London’s Camden Council mixed-use scheme near Kings Cross are well underway. The plan focuses on revitalising two adjacent former light industrial sites, spanning about 3.56 acres, at Camley Street and Cedar Way.
They involve the construction of 135 council homes by Camden Council, funded by proceeds generated from private flats and office spaces for companies in the life sciences and technology sectors, primarily at Cedar Way.
To execute the regeneration plan, the council is currently searching for a development partner who will lead the project. An investment of around £270 million is anticipated to construct homes and offices across the two sites.
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Development plans for the Camden Council Mixed-Use Scheme Near Kings Cross
Upon securing a developer, collaborative efforts will be undertaken to prepare a comprehensive planning application. It will thus encompass both sites, ensuring a cohesive integration. Subsequently, the Council will directly oversee the provision of affordable housing and workspace at 120-136 Camley Street. Furthermore, the appointed development partner will handle the development of the 3-30 Cedar Way site.
The Cedar Way Site will be sold to the developer on a 250-year-long leasehold. Thus, it will generate capital receipts that will be utilised to subsidise the council’s self-delivery of 120-136 Camley Street. The council aims to emphasise social value and active sustainability strongly. It will also develop long-lasting ideas through this transformative project at Camley Street.
According to Neil Vokes, the director of development at Camden Council, the potential of this significant site, characterised by its size and connectivity, offers an opportunity to create a new chapter in the history of Camley Street that sets the standard for community benefit. Vokes also emphasises the importance of partnering with a developer who shares the council’s values and commitment to responsible urban development.
The tendering process for a main building contractor is expected to commence in the coming year. Construction for the mixed-use scheme near Kings Cross is also slated to begin at the start of 2025.
