Global law firm Ashurst is advising the Old Oak and Park Royal Development Corporation (OPDC) on the high-profile procurement process to select a private sector partner for the delivery of Old Oak, one of the UK's most significant and ambitious regeneration opportunities.
OPDC, the Mayor of London's development corporation, has launched a two-stage procurement to appoint a visionary private sector partner to join with it in delivering the £10 billion Old Oak scheme. The procurement follows OPDC's agreement of heads of terms for a landmark Public Land Agreement with the Department for Transport and Network Rail, unifying approximately 70 acres at Old Oak into a single development site under public sector ownership.
Set around the new Old Oak Common station, linking HS2, the Elizabeth line, the Great Western Main Line and Heathrow Express, the project is of national significance and will deliver 8,000 new homes, 200,000 sqm of commercial and community space, and support 11,000 jobs in a new canal-side district for west London.
Commenting, partner Henry Moss said: "This is one of the largest and most complex regeneration schemes in the UK. We have been advising OPDC on land assembly, including the Public Land Agreement and promotion of a compulsory purchase order, and we are proud to now support the procurement to find the right partner. Old Oak is a once-in-a-generation opportunity to show what can be achieved when public purpose and private expertise come together."
Ashurst's cross-disciplinary team is being led by real estate partner Henry Moss, with support from counsel David Razzell. Partner Trevor Goode is leading Ashurst's advice on the CPO and planning strategy to facilitate the comprehensive regeneration of the Old Oak area. He is supported by senior associate Brian Cheung. Partner Edward McNeil is leading on procurement law advice whilst partner Simon Swann is leading on tax advice.
