Holloway prison: MOJ sold the site to Peabody for £82million who plan to build 1,000 homes
Works are set to start by 2022 and will be completed by 2026
08 March, 2019 — By Emily Finch
James Murray, Jennette Arnold, Sadiq Khan, Jeremy Corbyn at the prison this morning Pic Credit: Mayor of London
The housing association Peabody has bought the former Holloway Prison site in Parkhurst Road from the Ministry of Justice for £81.5 million, it was announced today (Friday).
Peabody will be working with housing developers London Square on the project which they say will deliver more than 1,000 homes with 60 per cent “genuinely” affordable homes. Of the 600 or so “genuinely” affordable homes, around 400 will be for “social rent” while the rest will be shared ownership or at London Living Rent prices.
The Mayor of London provided a £42million loan from the Mayor’s Land Fund to Peabody to buy the site from the MOJ. The closure of the prison was first announced by the then chancellor George Osborne back in 2015.
One of the conditions of the loan was for Peabody to provide 60 per cent “genuinely” affordable homes on the site – ten per cent more than the 50 per cent set out in the Town Hall’s planning policy.
Peabody say they will also build a Women’s Centre at the site which housing campaigners have called for and will allow a homelessness charity to temporarily take-over the Visitor’s Centre to provide accommodation for around 40 people.
Peabody has chosen architects Allford Hall Monaghan Morris based in Clerkenwell to come up with the designs.
Housing chief Cllr Diarmaid Ward said: “The announcement today is potentially great news and it’s great that the new owners want to go well above the required 50 per cent genuinely affordable homes.
“We need to see more detail but Islington Council and the local community stand ready to work with Peabody to make this a brilliant success.”
Mayor of London Sadiq Khan said: “This shows what is possible on public land. We’ve been able to do this even with the limited powers we currently have. Ministers now need to play their part and give us the step-change in investment and powers over land we need to truly fix London’s housing crisis.”
A consultation was launched today (Friday) with residents invited to submit their views to Peabody at http://hollowayprisonconsultation.co.uk/