Camley Street Regeneration - Developer Partner

The London Borough of Camden (the “Council”) has committed to the regeneration of 120-136 Camley Street and 3-30 Cedar Way, Kings Cross. The ambition is to deliver a sustainable new neighbourhood consisting of new homes, Knowledge Quarter led employment space and new public green and open spaces. The vision commits to the delivery of genuinely affordable homes and affordable workspace which will enhance job opportunities, training, and skills for residents.

In September 2022 the Council’s Cabinet approved the delivery strategy for the Camley Street sites. The Council is now seeking a Development Partner with the right skill set, including life sciences expertise, to partner with the Council in the delivery of the Sites. Once appointed, teams will work collaboratively on a planning application to be submitted covering both Sites, linking them in a cohesive way, focussing on delivering the Shared Vision through placemaking and quality outcomes.

The Development Partner will work collaboratively with the Council to secure a joint planning application covering both sites. On grant of planning, the site/phase consideration will be due for payment and the Development Partner will be granted a 250 year long lease (s) on Cedar Way. The Development Partner can then progress delivery of the Cedar Way site including the specialist Knowledge Quarter commercial space, as well as private housing, some affordable housing. The Council will directly deliver affordable housing and affordable workspace at 120-136 Camley Street.

There is potential for adjacent land opportunities to become available to the Development Partner during the term of the Development Agreement (as more fully described in the Development Brief). If this land becomes available to the Development Partner the estimated GDV set out at 11.2.6 will increase.

The estimated construction value of Cedar Way is c. £200m. The term of the Development Agreement is expected to be a minimum five (5) years until Practical Completion of the development of Cedar Way and the establishment of the long-term management for the site.