Urban regeneration specialist, Muse Developments has signed a development agreement with Lambeth Council to deliver a £135m 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.
A planning application is expected to be submitted by January 2015, and if planning consent is granted, work is due to start in summer of 2015.