Peabody has acquired the former Holloway Prison site from the Ministry of Justice. The Ministry of Justice was advised by Avison Young.
London Square will be working in partnership over the next few years with Peabody to deliver the long term project.
The 10-acre site provides a significant opportunity for high quality and inclusive new neighbourhood which will deliver 60% genuinely affordable housing, green spaces, places to play, local shops on Parkhurst Road and Camden Road and a Women’s Centre in line with the planning guidance issued by Islington Council in 2018.
Peabody is fully committed to an inclusive and wide-reaching community engagement programme as the design work progresses during 2019 and early 2020. Peabody with their architects, AHMM will work with a wide range of local resident and community groups to discuss how best to deliver an exceptional new place for Holloway. Ensuring this unique site provides the right type of homes, public spaces and community amenities for local people.
A dedicated website, hollowayprisonconsultation.co.uk, will host information about the project and a series of public exhibitions will be held on site to seek views and show how the plans are progressing.
Peabody hopes to commence building work by 2022 with the first affordable homes ready in 2026.
Peabody will be working with local homeless charities to provide a suitable meanwhile use in the former visitor’s centre on Camden Road.
Brendan Sarsfield, Chief Executive from Peabody, commented: "We are committed to working with LB Islington and the GLA to deliver an exceptional new housing scheme on this historic site. We are pleased to confirm we will deliver 60% level of genuinely-affordable homes integrating existing Islington communities with a new Peabody estate. As well as providing new homes we will also ensure social infrastructure and placemaking are at the heart of our proposals. We are pleased to be working with London Square which is a continuation of our long term relationship across a number of sites in London."
Adam Lawrence, Chief Executive from London Square, said:
"We are honoured to be working with Peabody and the GLA to deliver this important new scheme for the capital. We have a strong track record of delivering high quality, sustainable and mixed communities in London and are delighted to be part of this high-quality team."
Prisons Minister Rory Stewart, added: " The sale of Holloway will help drive forward our commitment to replace ageing prisons with modern, purpose-built establishments - I am determined to see this money reinvested to improve rehabilitation and ultimately reduce reoffending. “We have worked closely with the local authority and others to ensure the amount of affordable housing on the site meets local needs, and I am pleased we have achieved this aim while giving good value to taxpayers."
The head of Avison Young's Land and Development team, Tom Marshall, commented: “Despite Brexit uncertainties, London remains a global investment capital, and this 10-acre site was one of the largest and most high profile development opportunities offered in the London market in recent years. The partnership being announced today will deliver much needed affordable housing and social infrastructure to the local community”.
The sale of HMP Holloway is part of the Ministry of Justice’s Prison Estate Transformation Programme. This aims to modernise prisons across the country, improve rehabilitation while creating the best and safest environment for those working and serving time in prison.