Our Real Estate and Corporate teams have advised on the successful joint venture bid by Ballymore and Lateral for the Camley Street regeneration project in Camden, London with a GDV of £500 million. This ambitious mixed-use scheme aims to transform the area into a vibrant and innovative community.
Camden Council has selected Ballymore and Lateral as joint development partners following a procurement process, which began in May 2023. The scheme spans 3.56 acres across two council-owned sites at 120-136 Camley Street and 3-30 Cedar Way and will bring significant residential and commercial opportunities to the borough.
The project will include the construction of 350 homes, of which 170 will be affordable, alongside more than 200,000 ft of commercial space designed to attract industries such as life sciences, technology, and digital enterprises. In addition to housing and commercial development, the plan incorporates public spaces, retail and dining options, improved pedestrian and cycling pathways, and affordable workspace for startups and SMEs.
Richard Beckingsale, Co-Head of the Real Estate Sector at Gowling WLG, led the legal team advising Ballymore. Richard commented: "Working on behalf of Ballymore, we have been delighted to support the successful bid by the Ballymore/Lateral joint venture for this opportunity and look forward to seeing this scheme built out in the coming years. The team included property lawyers, Jimmy Wheeler, Graeme Berry and Gurjeet Bahra, as well as Micky Yang and Owen Shave in the firm's indirect Real Estate team."
Gowling WLG has dedicated development and regeneration teams in the UK and act for a wide range of developers, funders and local authorities. The broad spectrum of asset classes we deal with means our expertise advising on residential, mixed-use schemes and regeneration sites is unparalleled. For further information, please visit Gowling WLG'sz Real Estate page.