O2 Centre redevelopment - changes to masterplan approved

Revised plans for the site on Finchley Road were given the green light by Camden’s planning committee yesterday (August 20).

Developer Landsec who are transforming the 14-acre site will still allocate 20 per cent of the 1,800 flats for 'affordable' housing - alongside creating shops, open spaces, food and drink outlets, a health centre, nursery, office space and a cinema.

They said updating the plan - which was approved in 2023 - was "crucial" to address rising construction costs, new building regulations, and higher interest rates, which have hit house building across London.

In their report to councillors, officers wrote that the three phase 10-15-year scheme for the site has "stalled" amid "spiralling construction costs" and concerns over viability.

They said the amendments which will see some blocks topping 17 storeys while delivering 92 fewer homes for low income families were minor and would still deliver much-needed social housing in the borough.

The changes are also in line with emergency housing measures set out by the government and the Mayor of London to speed up the delivery of new homes across the capital.

Tim Trillo, development director at Landsec, said: "Securing approval for these updates is an important step forward for the O2 Centre masterplan.

"By aligning with the GLA’s emergency housing measures, we’re still able to create new homes for Camden, provide open green space and protect the long-term benefits we promised the community in 2023.

"We’re looking forward to playing our part in unlocking the delivery of much-needed homes in London."

The revised plans include design changes to meet new building safety requirements and create more open and green space - with more than half the site dedicated to public use.

This will include a central green area with planting, play zones, and seating, as well as improved pedestrian routes connecting Finchley Road and West Hampstead.

The first phase of development also includes £10 million towards step-free access at West Hampstead station.

Landsec has worked with GRID Architects and Heatherwick Studio to refine the design of the site which includes the shopping centre, car park, former Homebase store, car showrooms and a builders yard.

The developer says the shopping centre, which includes an Aldi, Sainsbury's, Vue Cinema, Nandos, a gym and a Waterstones bookstore, will remain open for several more years during the construction period.