The Old Oak and Park Royal Development Corporation (OPDC) has begun the search for a private sector partner for a £12bn joint venture that will oversee and manage delivery of the HS2-linked Old Oak regeneration scheme over the next two decades.
The development area comprises around 31 hectares of brownfield land in West London. Plans for the regeneration project include the delivery of approximately 8,000 homes, including affordable housing, alongside up to 200,000 sq m of commercial and community space.
The proposals also include the creation of a new canal-side neighbourhood, a major town centre, community facilities, parks and extensive public open space.
At the centre of the scheme will be the new Old Oak Common station, where High Speed 2, the Elizabeth line, the Great Western Main Line and Heathrow Express will connect. OPDC said the interchange would establish Old Oak as a major gateway between London and the rest of the country while creating the opportunity for a new urban district in West London.
The contract is expected to run for 20 years, with the option for OPDC to extend the arrangement for a further 10 years.
