O2 Centre ‘Masterplan’ approved by Camden Council

Landsec’s ‘O2 Centre Masterplan’ is set to go ahead after Camden Council granted planning permission in Finchley Road, London.

The ‘Masterplan’, said to be the largest planning application in Camden since Kings Cross, will deliver a new mixed-use urban neighbourhood on a 14-acre site. “At the heart of the proposal is a plan to deliver new homes and green, public spaces on an under-utilised car park sitting behind the O2 retail centre, in a highly sustainable urban location well-connected by five train stations,” read a Landsec statement.

According to Landsec, the development will bring 1,800 energy-efficient homes alongside 180,000 sq ft of retail, leisure and other community space.

“The decision gives the green light to an [approximate].£1 billion long-term investment in the borough, with a significant package of social, financial and community benefits,” claimed Landsec, adding that the ‘Masterplan’ will create 1,000 new job opportunities and up to £34.5 million in additional annual spending in the local economy.

Mike Hood, CEO of Landsec’s regeneration arm said: “Our O2 Masterplan brings our purpose to life and is an important step for our business as we focus on shaping more mixed-use urban neighbourhoods that champion communities, the environment and quality of life. As long-term investors in the local area, we want to contribute to its long-term success. By working with the Council and the local community we hope to repay the faith they have shown in us to shape a thriving and sustainable neighbourhood.”