Hermes/Argent set to bring forward major Tottenham Hale scheme
The announcement follows news that Tottenham Hale has been designated a Housing Zone by the Mayor of London which will see £45m of public money invested in unlocking sites. [see SoTo post]
Hermes is the investment manager of the 9ha Tottenham Hale Retail Park, which is a substantial part of the redevelopment area, while Argent is its long-term development partner on a range of major UK schemes including King’s Cross Central and Paradise Circus in Birmingham. Once finalised, the joint venture will be working with Transport for London, on over-station development.
Tottenham Hale, which is on the London to Stansted Airport and Cambridge route, has already been earmarked as a Crossrail 2 station.
Cllr Alan Strickland, Cabinet Member for Housing and Regeneration at Haringey Council, said: “This is a great step forward in our plans to create a new district centre, bringing much needed new jobs and investment to Haringey and North London.”
Chris Taylor, Chief Executive of Hermes Real Estate, said: “We are delighted to be working in partnership with Argent with whom we have a longstanding relationship and first-hand experience of the team’s excellence in delivering major regeneration projects such as the 67 acre King’s Cross scheme.
“The Argent team is also working with Hermes in partnership with Birmingham City Council in the major city centre regeneration project at Paradise Circus. As a long term investor, we regard Argent as best in class urban developer, with their innovative approach to place-making and partnership in a truly sustainable manner.
“With enhanced infrastructure and public realm, an exciting opportunity exists for Hermes/Argent to work in partnership with Haringey Council at Tottenham Hale.”
The Tottenham Hale redevelopment is one of five major regeneration areas in Tottenham which will bring £1bn of investment to the area. Other sites include Tottenham Green and Seven Sisters, Bruce Grove, Northumberland Park and High Road West, including the Tottenham Hotspur stadium redevelopment. In total, by 2025 10,000 new homes will be built and 5,000 new jobs will have been created, the council said.