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Owen White assist London Square in Holloway Prison Joint Venture Acquisition

We have recently acted for developers London Square in respect of the proposed redevelopment of Holloway Prison by a joint venture between Peabody and London Square.

Our team was led by directors Phil Lawrence and Mike Smith.

The sale of HMP Holloway is part of the Ministry of Justice’s Prison Estate Transformation Programme that aims to modernise prisons across the country, improve rehabilitation, while creating the best and safest environment for those working and serving time in prison.

The 10-acre site provides a significant opportunity to deliver a high quality and inclusive new neighbourhood of more than 1,000 homes, which will deliver 60% genuinely affordable housing, green spaces, places to play, local shops on Parkhurst Road and Camden Road and a Women’s Centre in line with the planning guidance issued by Islington Council in 2018. The ambition is to deliver a development which will have a significant impact both locally and for London.

Working in partnership with London Square to deliver this project, Peabody is fully committed to an inclusive and wide-reaching community engagement programme as the design work progresses during 2019 and early 2020. Peabody with their architects, AHMM will work with a wide range of local resident and community groups to discuss how best to create an exceptional new place for Holloway, ensuring this unique site provides the right type of homes, public spaces and community amenities for local people. A dedicated website,  will host information about the project and a series of public exhibitions will be held on site to seek views and show how the plans are progressing.

Subject to planning consent it is hoped that building work will commence in the summer of 2020, with the first affordable homes ready in 2022.

Adam Lawrence, Chief Executive, London Square said,

“We are honoured to be working with Peabody and the GLA to deliver this important new scheme for the capital. We have a strong track record of delivering high quality, sustainable and mixed communities in London and are delighted to be part of this high-quality team.”

Phil Lawrence, director at Owen White said,

‘We are delighted to have worked with London Square on this landmark project.  We have handled a number of major redevelopment projects for London Square (including the acquisition and development of The Star & Garter in Richmond) and have worked with them since they were formed in 2010.’

If you would like to discuss any commercial property issues please contact the Property Development Team.

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