New homes and jobs at Camley Street are a step closer

JLL has successfully led the procurement process to select a development partner for Camden Council's Camley Street redevelopment project, a significant opportunity in London's Knowledge Quarter. A Joint Venture (JV) comprising urban regeneration specialist Ballymore and Life Science Developer/Operator Lateral has been appointed as the Council’s Development Partner to work with the Council to create a sustainable neighbourhood consisting of new homes, Knowledge Quarter-led employment space and new public green and open spaces.

The redevelopment, with an anticipated Gross Development Value of over £500 million, will deliver:

 - Approximately 350 new, energy-efficient homes, including around 170 genuinely affordable homes

 - Over 200,000 sq ft of Knowledge Quarter-led commercial space

 - Around 1,000 new jobs in light industrial, life sciences, technology, and digital sectors

- Enhanced public spaces and improved connectivity to King's Cross Central and Camden Town.

Ballymore and Lateral will work with Camden Council, local residents and businesses to further develop these plans across two adjacent sites before submitting for planning during the second half of 2025.

Subject to planning permission being secured and relevant conditions being met, the Joint Venture would then acquire 3–30 Cedar Way Industrial Estate (2.37 acres) on a long leasehold to deliver commercial space, private residential units and affordable homes. Camden Council would directly deliver affordable housing and affordable commercial space on 120–136 Camley Street (1.19 acres). 

The development partner selection process was led by the Development and Regeneration team, with support from Life Sciences and Residential market colleagues. 

Myran Lynch Bathgate, Associate - Development & Regeneration at JLL, said: "Having worked closely with Camden Council since 2019 on the Camley Street project, JLL is pleased to see this significant step forward with the selection of Ballymore and Lateral as Joint Development Partners. It's a great example of the formation of a public-private partnership, united by a shared vision for site and a clear focus on delivering affordable homes, creating jobs, and enhancing the Knowledge Quarter. We're excited to see the next phase in realising this ambitious plan that will bring substantial benefits to the local community and London's innovation ecosystem."

Chris Walters, Head of UK Life Sciences at JLL, added: "I'm delighted to work with our Development & Regeneration team on this successful public private partnership that will deliver high quality space in Kings Cross for knowledge intensive industries."