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Ballymore JV announces £500m Camden development

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London’s Knowledge Quarter could see further development including hundreds of new homes as well as business space, following the formation of a joint venture partnership. 

Credit: Seven Storm Photography via Pexels.

Urban regeneration specialist, Ballymore, is partnering with life sciences developer and operator, Lateral, to deliver the Camley Street project as part of the Camden Community Investment Programme.  

Split across two sites, the planned development will… 

  • Deliver around 350 new homes (170 “genuinely” affordable); 
  • See construction of more than 200,000 sq. ft of commercial space;  
  • Establish a new, greener neighbourhood in Camden with public open spaces. 

The affordable properties will be a mix of social rent and intermediate homes, available at a reduced rate with a secure tenancy. 

Other amenities include new shops and cafes as well as improved pedestrian and cycling routes to King’s Cross Central and Camden Town. 

The “Knowledge Quarter” is an area of King’s Cross where world-leading research and technology institutes and companies have set up. 

It is hoped the completed development will create around 1,000 jobs in the light industrial, life sciences, technology, and digital industries. 

Ballymore and Lateral will now work with Camden Council and the community to develop the plans before submitting them in the second half of 2025. 

Subject to planning permission, the pair would then acquire 3–30 Cedar Way Industrial Estate (‘Site B’ – 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 (‘Site A’ – 1.19 acres).  

The redevelopment has an anticipated Gross Development Value (GDV) of £500 million.  

Credit: AXP Photography via Pexels.

John Mulryan, managing director at Ballymore, said: “We’re looking forward to collaborating closely with local residents and businesses to create a thoughtfully designed, sustainable neighbourhood.  

“Together with our partners Camden Council and Lateral, we will deliver affordable housing, innovation and lab spaces, light industrial facilities, and ultimately create transformative jobs and skills opportunities for the community.” 

Councillor Nasrine Djemai, cabinet member for new homes and community investment at Camden Council, said: “We’re getting on with building the new energy-efficient family-sized homes that are desperately needed and creating the employment space which will help Camden’s Knowledge Quarter continue to grow and provide the good, well-paid work our residents need. Through our Community Investment Programme we’ve built over 1,500 homes, a third of our target of 4,850 new homes.  

“The life science, technology, and digital industries are booming in Camden – we want to facilitate this growth and crucially ensure our residents have access to the jobs created by them.  

“This includes work experience placements with school children, creating apprenticeships, providing training, so that residents growing up in Camden now have a clear pathway into these jobs.” 

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