Lambeth development agreement signed
Wednesday 16th April 2014
National development and urban regeneration specialist Muse Developments has signed a development agreement with Lambeth Council to deliver a £135 million regeneration scheme, at no cost to the Council, across three sites in Brixton town centre.
The Your New Town Hall (YNTH) project will preserve the current, historic Town Hall, deliver a new energy efficient office building for the Council of up to 125,000 sq. ft, create commercial space for start-up businesses and community groups and up to 275 new homes, of which the aim is to secure 40% as ‘affordable’.
As part of the scheme, Lambeth Council will be able to reduce its core office buildings from 14 to 2, saving at least £4.5m a year.
Muse Developments, part of the Morgan Sindall Group, was chosen as the preferred developer for the YNTH project late last year, following a Europe-wide competition. The conclusion of the Conditional Development Agreement will now allow Muse to press ahead with the detailed design of the project and carry out widespread consultation with Lambeth residents. Morgan Sindall, the construction and infrastructure company, has been appointed as principal contractor on the scheme.
Michael Auger, development director at Muse Developments, said: “We are very excited to be on board with such a major regeneration project; we want to create something that everyone in the borough can benefit from and which adds even greater vibrancy to Brixton’s thriving community.”
Cllr Paul McGlone, Cabinet Member for Finance, said: “This development agreement gives the green light to a project that will bring enormous benefits for all Lambeth residents. Your New Town Hall is a great deal for Lambeth taxpayers and businesses.