Hundreds of Peabody homes for Archway
We've acquired the Archway Campus site from University College London (UCL) and Middlesex University, in a £150m deal to develop hundreds of new homes.
Our Head of New Business Craig Horn, who worked on the deal, said that our £150m investment would complement the significant regeneration already happening in the Archway area. He added, "In addition to providing hundreds more much-needed homes we are looking at a range of community uses which will benefit the whole neighbourhood."
The planned area for development
Just across the road from Archway Park, the new mixed-tenure Peabody homes will be built between Highgate Hill and Archway Road, close to Archway Underground station.
The Islington site, a former medical teaching campus, which sits within a conservation area and has considerable heritage assets, was sold to us by UCL and Middlesex University who cited our expertise in developing homes sensitively.
UCL and Middlesex University commented:
“The Archway Campus was considered unsuitable for education and healthcare uses. Higher quality facilities which are located closer to the core campuses of UCL and Middlesex University will provide an enhanced student experience and improved academic offer.
“We have been inundated with prospective buyers for the site, and we are delighted to have concluded the deal with Peabody. Their expertise in developing heritage sites like this, and their commitment to not only maintaining but enhancing conservation areas through excellent design, made this an easy decision. We look forward to seeing how the scheme progresses.”
Jeremy Stibbe, our Executive Director of Development and Sales, said:
“Peabody is already rooted in Islington, providing homes, services and community support for our residents. We are really excited about the potential for the Archway Campus site, which will complement and add to all of the great work going on in the area already. We have the experience, the expertise, and the understanding to deliver a high level of affordable homes whilst making the most of the key conservation and heritage assets in the area. We look forward to working with the council and the community as we develop our plans.”
We plan a public consultation later in the year.
Deloitte Real Estate advised UCL and Middlesex University.
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