The Mayor of London, Sadiq Khan, has signed off the £175 million Oaklands regeneration project in West London that will see 605 new homes delivered.
Work on the project will start later in the year after the London Mayor gave his final approval to plans for the first major housing development at the Old Oak regeneration site after Khan intervened to increase the number of affordable homes in the scheme.
The Oaklands project will also involve a new link road being built into the site from Old Oak Common Lane, which will open the area up to wider regeneration.
Later in the year, the existing site buildings will start to be demolished, with construction work on this phase expected to be complete in the next three years.
The Old Oak and Park Royal Development Corporation approved the application as they are the organisation that has planning control over the Old Oak regeneration site, before the Mayor signed it off.
Planners anticipate that there could be 25,500 new homes built at the Old Oak and Park Royal sites over the next 30 to 40 years, along with becoming a key transport interchange for HS2 and Crossrail.
Khan commented: “The scale and ambition for this development shows London is very much open for business.
“Despite the uncertainty caused by the UK’s vote to leave the European Union, it remains clear that developers and investors see long-term potential in our great city.”
Queens Park Rangers Football Club and Genesis Housing Association are the developers, the first of which has other strategic land interest in Old Oak and wish to build a new stadium as part of a wider development to give the club a new home.
Tony Fernandes, QPR Co-Chairman, commented: “We are delighted that the Mayor has granted planning permissions for the Oaklands development, including hundreds of affordable homes for Londoners.”