Link to Town Centre
Regeneration plans
This site forms part of the council's
town centre regeneration strategy and we believe it makes
commercial sense to retain the site for now and link any future
disposal to that of a neighbouring site, making it more suitable
for residential development and potentially increasing its market
value.
The regeneration option seeks to
create a larger development footprint by assembling land in
different use and ownership which can then be sold not only to
create a consistent urban form (in building design terms) but also
for the best price through it’s ‘marriage value’.
Thus, the regeneration option seeks
(through the planned re-alignment of Chapel Road to create the best
planning conditions for a scheme proposed by Durkan Homes on the
Brittania site with a contribution to costs of re-alignment of
approx £0.75m)
But also the most propitious
development conditions on the other side of Chapel Road by
combining 40 Ilford Hill itself (owned and operated by the MPS)
with the council owned land to the rear. Together these two sites
then have a combined housing capacity of 436 new units.
Unconditional disposal on the open
market would yield less capital receipt for the council, provide
fewer homes and lead to piecemeal development in Ilford Hill of the
kind which we and the private sector (with government support and
recognition) are now seeking to replace and renew.
Both (disposal) options will lose the
council some revenue from the loss of the advertising hoarding but
this is a realtively small amount in comparison to the
potential capital receipt and potential funding (for highway
re-alignment) from the Government’s Round II Community
Infrastructure Fund programme.