TfL submit plans for residential developments on three London sites

The proposals are for sites in Nine Elms, Parsons Green and Northwood. This follows TfL's announcement last month to release over 300 acres of land to deliver new homes, offices and retail spaces.

The Nine Elms development will be above the new underground station and includes plans for 362 new homes, of which 25% will be allocated to affordable housing, 2,318 square metres of office space, 550 sqm of retail space, play area, public square, pedestrian and cycle connections and parking.

The plans for Northwood provide for a new underground station and 127 new homes, of which 20% will be affordable homes. The plans also include a bus and train interchange, 1,300 sqm retail space, public space and 300 car parking spaces.

The Parsons Green proposal is located on the former Tube depot site and includes plans for 119 new homes, of which 40% will be affordable, 4,000 sqm of retail space and restaurants.

TfL hopes to create over "500 new jobs and give a substantial boost to London's transport network, with £100m being reinvested in modernising the system. These plans are the first step in TfL's ambitious property programme to release land for development, which will deliver more than 10,000 new homes across the capital over the next decade".

TfL plans to generate £3.4 billion from non-fares revenue by 2021 and it hopes to raise £100m from these three sites.

Graeme Craig, director of commercial development at TfL, said: "We are working closely with local communities and boroughs to shape these proposals so that they meet local aspirations and deliver real local improvements. The three sites demonstrate the varied nature of our landholdings, and the potential they have to create economic growth across London whilst providing vital revenues to invest in running and modernising the transport network."

Planning expert Victoria Lindsay of Pinsent Masons, the law firm behind Out-Law.com, said "TfL is actually one of the biggest landowners in the capital with 5,700 acres spread across 3,000 sites. The mayor has pledged to have an exit strategy for all City Hall-owned land by the end of his term in 2016 which is fast approaching."

 "99% of City Hall owned land is now freed up for development and TfL's plans build on this to deliver much needed housing across the capital whilst investing any revenue in improving London's transport infrastructure," said Lindsay. "This most recent announcement comes off the back of TfL's announcement at the end of October that over 300 acres of their land for development in the next 10 years. These three sites demonstrate the varied nature of TfL's landholdings and the potential for development."