For a number of years, the area around Regis Road has been identified by the Council and the local community in their neighbourhood plan as an area for development.
Development has the potential to transform the area by providing new homes including much needed affordable homes, creating new jobs and opportunities, open spaces and community facilities, all as part of a well-connected and sustainable neighbourhood.
In 2022 the Council agreed a Regeneration Strategy to take a more proactive approach to bringing forward regeneration of the Regis Road Growth Area.
In March 2023 the Council approved the conditional sale of the land at Regis Road Car Pound & Reuse Recycling Centre site and the Holmes Road Depot site, including the flats at 76 & 78 Holmes Road.
The conditional sale, to Yoo Capital, is intended to act as a catalyst for the regeneration of the Regis Road area.
Yoo Capital’s role
Yoo Capital is an investor and developer. Their early vision is to transform the area into a new hub for film, creative, and cultural industries by building workspace to support new jobs, and by providing new high quality homes.
Yoo Capital are responsible for creating future plans for the Regis Road and Holmes Road depot sites and for the wider area. They will lead conversations with the community on their wider plans and on the new buildings.
The terms of the land sale arrangement require Yoo Capital to achieve the following:
- Develop their Vision into a wider masterplan for the Regis Road Area, which can deliver the expectations of the Planning Framework;
- Get planning permission to develop the Holmes Road Depot and Regis Road recycling sites as part of the wider masterplan approach;
- Deliver new homes and facilities to replace what is currently on the two sites;
- Ensure 50% of all new homes are affordable (in addition to re-providing the existing homes)
The Council expects Yoo Capital to work with landowners, local residents and stakeholders throughout their design and development process.
May 2024: Yoo Capital are proceeding with their masterplan approach. They held local engagement events in April 2024.
You can keep up to date and find out more about Yoo Capital’s vision for the area and their activities here
What this means for residents of 76 & 78 Holmes Road
The Council will support residents of 76 & 78 Holmes Road throughout the process.
Any development would not happen for a number of years. If the plans do go ahead, secure tenants would be able to remain a council tenant. Secure tenants would not have to move out of the area unless they want to and would have the option to move to a brand new home in the new development that meets their needs.
The Council will also support leaseholders to ensure they get a fair deal and will work with private rented tenants to provide adequate time to plan ahead.
You can view an example of what the stages and timeline could look like in the engagement leaflets below.
Information on the Council’s engagement with residents:
- View the update for residents leaflet, October 2023
- View the resident engagement leaflet for secure tenants, January 2023
- View the resident engagement leaflet for leaseholders, January 2023
What happens next
Yoo Capital will continue their community engagement to inform the way they develop their masterplan and then subsequently to influence the preparation of their planning application. The engagement will be open to all. Yoo Capital will contact local residents, businesses, community groups and other stakeholders who will be invited to join in at every step of the process.
The Council’s Area Regeneration team will continue engaging with residents about their particular circumstances and housing needs, answer any questions they may have and to hear residents’ views. The Council want to make sure that when the development goes ahead, tenants have a home that meets their needs and that leaseholders get a fair deal. This will help us to work towards clear and detailed future options for all residents.
Have a question or want to get in touch?
If you have any queries:
- email [email protected]
- phone 020 7974 4703
If you or someone you know needs help understanding this information, including language or other needs, please let us know.