Camden Council Courts Ballymore At Camley Street

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Ballymore and Lateral have been chosen by London’s Camden Council to deliver the Camley Street project of 350 new homes and 200,00sq.ft of commercial space.

Much of the funding will come from Camden’s Community Investment programme – with an insistence on energy efficiency.

The redevelopment is in a prime location in what is known as the Knowledge Quarter – the area of King’s Cross where world-leading research and technology institutes and companies have made their home. Split across two sites, the planned redevelopment will not only deliver homes and space, it is expected to create  1,000 jobs in the light industrial, life sciences, technology and digital industries.

 

Public realm

There are plans to create a greener neighbourhood in Camden with new public open spaces, improving biodiversity. New shops, cafes and improved pedestrian and cycling routes will support stronger links to King’s Cross Central and Camden Town.

 

Joint venture

Ballymore and Lateral will now form a joint venture and will work with Camden Council, local residents and businesses, leading to the application for planning permission in the second half of 2025.

Subject to planning permission being secured and relevant conditions being met, the JV would then acquire more land. The redevelopment has an anticipated gross development value of £500 million.

 

New homes

Councillor Nasrine Djemai, a cabinet member for new homes and community investment for Camden Council, says: “We’re getting on with building the new energy-efficient family sized homes that are desperately needed and creating the employment space which will help Camden’s Knowledge Quarter continue to grow and provide the good, well-paid work our residents need. Through our community investment programme, we’ve built over 1,500 homes, a third of our target of 4,850 new homes.”

John Mulryan, MD at Ballymore says: "Camley Street presents significant opportunities for both the Borough of Camden and London as a whole. It’s a huge site which has immense potential and its success will rely on effectively connecting into the Knowledge Quarter ecosystem, ensuring the benefits are accessible to all and reach far and wide."

Rob Beacroft, a co-founder of Lateral says: "The Camley Street project represents a significant step forward in our mission to create vibrant, inclusive neighbourhoods that are deeply rooted in the communities they serve. At Lateral, our science and technology developments are driven by a needs-led approach, ensuring we identify opportunities to attract and support the right occupiers across every stage of their innovation journey.”

 

Picture: John Mulryan, left, Rob Beacroft, right

Article written by Cathryn Ellis
16th October 2024

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