A £170m major mixed-use scheme next to Hertfordshire’s Hemel Hempstead station is available for development.
Network Rail and London and Continental Railways, LCR, are looking to shortlist six developers for the ten-year project on prime commuter-belt land.
LCR regional director Andrew Ferguson said: “Coupling easy access to London with open green spaces and high-quality community assets, this site represents an unmissable opportunity to unlock new homes, commercial space and public value”.
Architects Farrells masterplan is for 450 flats in a series of low-rise blocks and about 40,000 sq ft of commercial floor space, as well as a new multi-storey car park.
The gross development value of £170m is based on Farrells’ masterplan plus the cost of building the multi-storey car park, access road and enabling works.
The 7.4 acres site includes neighbouring land in commercial use, including a former car showroom site, industrial buildings and small retail units serving the station.
It backs on to Blackbirds Moor part of the Chilterns Area of Outstanding Natural Beauty and is close to supermarkets, restaurants and cafés, leisure facilities, schools and nurseries.
Site has strong transport links
Hemel Hempstead is 24 miles to the northwest of central London taking just over half an hour on a train to get to the capital.
The station and its surroundings are a key development site in the Two Waters Masterplan Guidance, which Dacorum borough council adopted as a planning statement in April 2018.
LCR and Network Rail formed a partnership in 2018 to identify opportunities to free up underutilised land for residential development at and around stations across the rail network.
Property consultancy JLL has been instructed to support the selection of a development partner.
JLL director Sajaad Ahmad said: “We are seeking a partner who shares LCR and Network Rail’s vision and ambition for creating a new vibrant residential community in Hemel Hempstead.”
Brokers Hank Zarihs Associates described the project as a great opportunity and one that commercial development finance lenders would be keen to support.
Information on the procurement process and timeline is available at delta-esourcing.com.