The redevelopment of the Finchley Road O2 Centre retail park will see £1bn invested in the area to create a major mixed-use urban neighbourhood at the 14 acre site.

It is the largest scheme passed by Camden Council since King’s Cross Goods Yard was approved and will be constructed over 10 to 15 years sustaining an average of 350 jobs a month over the long period.

Landsec gains planning for its first major urban housing scheme in London

Mace is part of the client professional team, acting as programme advisers for Landsec. M&E consultant is Hoare Lea working alongside structural and civil consultant Pell Frishmann.

The plans for the strip site between Finchley Road and West Hampstead railway stations had to be rejigged because of the London Mayor’s decision to make second staircases compulsory in all new high rise residential blocks.

Each large housing block will now include a second staircase, a dedicated evacuation lift lobby and an alert system for use by the fire service.

At the heart of the proposal designed by architect AHMM is a plan to deliver new homes and green, public spaces on an under-utilised car park sitting behind the O2 retail centre.

The hybrid planning application also includes detail planning approval for over 600 homes in the first blocks: N3-E, N4 and N5 and demolition of a big Homebase store.

Outline planning permission for Development Plots N1, N2, N3, N6, N7 ,S1 and S8 including the demolition of the above ground structures of the O2 Centre and car showrooms.

As well as 1,800 energy efficient homes the scheme will see 180,000 sq ft of retail, leisure and other community space built.

Overall the scheme will contribute around £44m in Community Infrastructure Levy.

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.

“We are delighted at Camden Council’s decision to grant planning permission for the masterplan.

“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.”