Developer Sean Mulryan’s Ballymore has secured planning permission for a residential housing scheme in London that will deliver thousands of new homes.
The Irish-based group has substantial businesses that build and sell new homes in London, controlled mostly through British-registered Ballymore Limited and subsidiaries.
Ballymore and Places for London – the wholly owned commercial property company of Transport for London – have secured outline planning permission for the redevelopment of Edgware Town Centre from the London Borough of Barnet.
The approved plans will deliver 3,365 new homes, including 1,150 affordable homes and 463 student accommodation spaces.
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The scheme involves an estimated £1.7 billion (€2 billion) investment, creating more than 1,400 full-time jobs and generating £80 million for the local economy.
“Town centres and our local high streets are the beating heart of London’s communities – by enabling their success we create opportunity for jobs, growth, connection, and foster pride of place,” said Mr Mulryan.
[ Ballymore in €7.8m off-market deal for Naas Racecourse landsOpens in new window ]
“Our shared vision for Edgware will breathe new life into the town centre – transforming it into a more vibrant, inclusive, and welcoming place for residents, businesses, and visitors alike.
“We are immensely proud of these proposals, which are the result of five years of local views and deeply value the input we’ve received throughout the process.
“We are excited by the master plan that has emerged and look forward to continuing our work with the community and our partners to bring this vision to reality,” he said.
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The development will more than double the existing commercial and leisure space, with 460,000 sq ft of new shops, cafes, restaurants and a new cinema.
There will also be a new transport interchange, future-proofed for electric buses, with improved connections to the London Underground.
Ballymore last month acquired about 13 acres of the lands at Naas Racecourse with a view to developing hundreds of new homes on the site.
The Irish Times understands Ballymore paid upwards of €7.8 million in an off-market deal for the lands which are zoned for residential use.
The price paid equates to an average of €600,000 an acre, which is broadly in line with the sums being paid for zoned residential land elsewhere in Dublin’s commuter belt counties.
Ballymore is expected to submit a planning application to Kildare County Council within the coming months for the development of between 250 and 300 homes on the site.
