The Mayor of London, Sadiq Khan, together with local authority leaders and industry partners, is at MIPIM - the world’s most influential property event - in France today to seek investment to help build thousands of more affordable homes for Londoners and to unlock new infrastructure and jobs in the capital.
The investment opportunities are set out in a new Opportunity London, London Investment Prospectus, which details 20 live opportunities. This includes opportunities to build new housing and build-to-rent developments, which are desperately needed in London, as well as student accommodation, office buildings, logistics, urban sciences and leisure developments. The Mayor will promote investment opportunities worth £10bn at five of London’s major transport and freight hubs.
Opportunity London is the capital investment partnership for London, bringing together every tier of government in London and is backed by industry to provide a single front door for investors. With investment volumes in London expected to pick up in 2025 as interest rates fall and market confidence improves, the Opportunity London prospectus comes at a pivotal moment to attract capital, accelerate the city’s growth and build more of the affordable homes Londoners need.
The Mayor of London, Sadiq Khan, said: “London is not only the greatest city in the world but also the greatest city in the world to invest in.
“I'm attending the MIPIM property conference to bang the drum for London, seeking new investment for the capital to help us accelerate the delivery of affordable homes and unlock new infrastructure and jobs in our city.
“I'm determined to do everything I can to build more of the affordable homes Londoners desperately need.
“I am also determined to play our part in delivering the UK Government’s number one mission: growth. We have recently launched our own ambitious growth plan for London and attracting new investment for major housing and transport projects will be vital to boosting productivity and improving living standards in London and across the country.
"My message to investors and developers at MIPIM is clear: now is the perfect time to invest in London and to help us deliver regeneration projects, new transport infrastructure and new affordable housing as we continue to build a better, fairer and more prosperous London for everyone"
Jace Tyrrell, Chief Executive at Opportunity London, said: “London is a trillion-dollar economy and remains the capital investment magnet of the world. We have a supportive public sector at every level of Government and the next wave of major development opportunities across transport, energy and real estate, for the benefit of all Londoners.”
The Mayor, together with London Councils, The City of London Corporation, Borough Leaders and private sector partners, will be actively engaging with developers and investors to promote London and its investment opportunities.
In total, the Investment Prospectus details four development opportunities in London owned by Network Rail, the largest owner of brownfield land across the country.
This includes a major investment opportunity at Bow Goods Yard, the last parcel of land to be unlocked as part of the London 2012 Olympic and Paralympic Games legacy, with planning consent already in place for 3 million square feet of development, including logistics, warehousing/industrial, a leisure district and public realm alongside the opportunity for a data centre.
At London Liverpool Street, Britain’s busiest station, Network Rail, working with Transport for London, plans toensure the transport hub is fit for London’s future demand, alongside creating a new landmark office and retail. Investment partners are also sought for future projects at Waterloo and Victoria.
Robin Dobson, Group Property Director for Network Rail said: “The opportunity to partner with Network Rail Property, and TfL’s Places for London, and invest over £10bn in these infrastructure-led projects and future schemes across London is huge. We are unlocking over 10 million sq ft of development across the widest range of commercial opportunities and working with over 20 London Boroughs to deliver an unprecedented level of investment across strategic transport hubs delivering growth and jobs, with a housing pipeline of over 50,000 homes for generations to come.”
Laura Citron OBE, CEO of London and Partners, said: "Opportunity London is already unlocking millions in investment and we’re just getting started. The latest ‘London Investment Prospectus’ is bringing some of the city’s most exciting developments to the market, including some very large projects, each multiple billions in development value. Backed by real momentum from the London Growth Plan, we’re ready to make some noise at MIPIM!"
In addition to the transport hubs, the Mayor will be seeking investment to deliver thousands of new homes and jobs on key sites owned by the Greater London Authority. This includes securing a development partner for a new mixed-use vision at Royal Albert Dock, a key part of the Mayor’s wider plans to deliver 36,000 new homes and 55,000 new jobs in the area; and a long-term development and investment partnership to unlock 9,000 homes and 11,000 jobs being overseen by the Old Oak and Park Royal Development Corporation (OPDC).
The Mayor also wants to work with private finance to enable the delivery of the capital’s next priority transport schemes; the DLR Extension to Thamesmead, the West London Orbital and the Bakerloo Line Extension.
The launch of the London Investment Prospectus comes just two weeks after the publications of the London Growth Plan. Developed together with London Councils and London & Partners, the London Growth Plan sets out a blueprint to kickstart the capital’s productivity, which has flatlined since the 2008 financial crisis. It aims to restore productivity growth to an average of two per cent a year in the next decade, which would make London’s economy £107bn larger by 2035 and put an extra £11,000 on average in the pockets of the near-nine million Londoners. This would also mean the capital contributing an extra £27.5bn in taxes to the Treasury in 2035, providing vital revenues for investment in public services.
