Network Rail and Transport for London (TfL) have announced plans to work together to enable the construction of at least 20,000 new homes over the next decade.

Network Rail and TfL are among the largest landowners in Greater London with more than 600 stations between them in addition to extensive retail, office and operational portfolios. Collectively, Network Rail and TfL own almost 14,000 acres of land across the capital. While a significant proportion of this is operational, there are also brownfield opportunities across London boroughs and surrounding counties that both companies want to unlock for housing developments.

Bollo Lane development (c) TfL

They are already looking at dozens of sites for housing developments within the partnership across London and the wider southeast region. The joint partnership will also look at using housing developments to support upgrades to railway stations and services and ensure the transport destinations continue to drive economic benefits in local areas.

Commenting on the announcement, Robin Dobson, Group Property Director at Network Rail, said, “This is a landmark moment for the capital, to see our two organisations build a partnership together. Jointly working with local authorities, this will benefit London’s communities, and businesses to drive economic growth. We look forward to working closely with key stakeholders to accelerate development delivery which over the coming decade will provide a positive impact for the region.”

Network Rail’s collaboration is with TTL Properties (TTLP), which is TfL’s wholly owned commercial property company, but financed independently of the transport network. TTLP currently has more than 1,750 homes under construction and more than 250 already completed. Currently, work is forecast to start this financial year on eight additional sites that will deliver a further 2,650 homes.

TTLP’s long term aim is to develop land to generate a profit that can then be pumped back into London’s public transport.

An early example of TTLP working with other developers is last year’s announcement to merge TfL and Ballymore land for development in Edgware, while a proposed redevelopment of Stratford station, which is used by both TfL and Network Rail could see 2,000 homes built around the station.

Graeme Craig, Director & Chief Executive of TTL Properties, said, “As two of the most significant landowners in London, it makes perfect sense for our organisations to work together. We are looking to combine our efforts to deliver more homes, with a focus on affordable housing, and with great social impact that benefits local communities as well. We are fully focused on the extensive potential that our partnership will unlock as our teams begin to work together on improving the capital for all.”

Property developments will still need to comply with local council planning regulations and the Mayor of London’s policies on the provision of affordable rent and shared ownership properties, as well as homes for sale commercially.

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