Land transfer paves way for estate regeneration
A council has approved in principle the transfer of land to a developer to kick start the regeneration of one of its estates.
Southwark Council agreed in a cabinet meeting to transfer the land to an as yet undetermined bidder for the development of site seven of the Aylesbury Estate.
The regeneration of the estate, which is one of the largest in Europe, was threatened last year when the government withdrew £180 million of private finance initiative funding. Since then the council has been working to find ways to push ahead with the scheme.
The approval of the land transfer is the latest move in plans for site seven, which holds 59 properties. Of these 15 leasehold and 10 tenant properties are still occupied, and the council is working with residents to find suitable alternative accommodation.
The overall regeneration of the Aylesbury Estate should eventually result in 4,200 homes.
The plans for site seven have been drawn up with the council’s community partner, Creation Trust, and were presented to residents earlier this year.
Fiona Colley, cabinet member for regeneration at Southwark, said: ‘It’s important that the area retains its strong sense of community, it is a perfect place to live for people of any age and I want to ensure that the development will benefit existing residents as well as those who want to move there.’