Transport for London’s property firm has been rebranded as Places for London – as it sets out plans to deliver thousands of new homes and workspaces across the capital. 

Places for London – TfL’s wholly owned commercial property company - has identified capacity on its land for 20,000 homes, with the ambition to start on-site on all of these by 2031.

It is targeting 50% affordable housing on average across its developments. 

Work has already started on sites across London for more than 3,350 homes, with more than 800 homes already completed.

Projects already being delivered include: 

• Recently completed works at Blackhorse View where, working with Barratt London and London and Quadrant, it has delivered 350 new homes – 50% of which were affordable.
• Commencing work with Barratt London at Wembley Park station, where more than 450 new homes are being constructed, with work by Countryside Partnerships and Peabody also underway at Barkingside Tube station to deliver 98 new affordable homes
• Work also continues at Kidbrooke in Greenwich, where – working with Notting Hill Genesis – Places for London is on track to complete more than 300 homes next year as part of a wider development that will ultimately deliver 619 new homes, with 50% affordable housing. 
• Signing a contract with Helical to see the delivery of around 600,000 sq ft of new sustainable office space above or close to London Tube stations – with work on site envisaged to start late next year above the new Bank Underground station entrance on Cannon Street. 

With retail forming a key part of the capital’s economic recovery, Places for London will continue to focus its efforts and investment on its existing shops and arches, as a landlord that supports hundreds of businesses spanning across the capital. 

Around 95% of the businesses on its estate are small and medium-sized enterprises (SMEs) and have increasingly diversified over the years, with food and beverage, leisure and creative enterprises joining industrial and automotive businesses across the estate.

Plans are underway for a major refurbishment project in Kilburn to repair and modernise 11 arches and the surrounding mews area to enhance the public realm and create a centre for community and cultural diversity. 

Graeme Craig, director and chief executive officer at Places for London, said: “As Places for London, we are excited to be taking the next step on our journey as we make London a better place to live, work and spend time in. 

“With a clearer name, we will continue to build on our existing track record of delivery, while also focusing our efforts on transitioning from being simply one of London’s biggest landowners to becoming one of its most important place-makers.

“Not only will we be building new homes, workspaces and retail spaces, enabling our capital to thrive, we will be taking every opportunity to deliver transport. 

“This will be achieved by both generating revenue that can then be returned to TfL and reinvested in the transport network, as well as through our developments themselves, which aspire to create wider improvements for those in the local community too.”

As well as developing and managing buildings and spaces, Places for London also wants to support the capital so that it can prosper and become more sustainable. 

Across all its developments, it will be working to drive positive social impact, promoting economic development and embodying environmental stewardship. 

As a member of the Better Buildings Partnership, Places for London is also committed to publishing a Net Zero Carbon Roadmap for its portfolio, which will take into account TfL and the mayor’s commitment to being net zero by 2030.

Its construction skills programme is also helping thousands of people take their first steps in the construction industry or help move them into the next chapter of their career. 

Since 2020, nearly 5,000 people have received training through its network of centres across the capital and more than 1,500 have already been helped into paid work.