The 10 acre Holloway Prison site in Islington is a prime location for redevelopment and has the potential to deliver new housing. The local authority set out their development goals when revealing the site would be made available. They would like to see new housing, particularly affordable homes, built on the site alongside new green spaces. The aim is for high quality, sustainable design and to create good connections.
London Mayor Sadiq Khan recently called on the government to ensure the site is not landbanked and delayed for years to come. He also encouraged that as much genuinely affordable housing is built on the land as possible. With new planning policies it is hoped this could be as much as 50% of the homes.
Mayor Khan also offered to work with the government to ensure the site achieves good value. The Mayor’s Homes for Londoners team will also be available to provide their expertise and ensure that hundreds of new affordable homes can be built.
It is hoped that the assistance of the Mayor and his team will prevent the land from being landbanked. This can occur with some development sites, leaving them tied up for many years as processes to detail plans, gain permission, and choose developers drag on.
Local residents are also in support of developing the Holloway Prison site to create homes that are more accessible. They don’t want to see high valued properties built across the whole site without any affordable or social housing.
The development of Holloway Prison would be huge for the wider Borough, creating homes that would attract more families to the area. At Finefair, a decorated lettings agent Islington landlords can rely on, we are excited to see progress made with the site. It would offer plenty of opportunities and we would be on hand to help investors.
If you would like to discuss lettings and investments with us please get in touch. Our team are happy to help and provide a reliable service every time.