Historic Archway site set for major housing development after land sale
- Credit: SevernCapital
Hundreds of homes could be built at the foot of Archway Road and Highgate Hill after a landmark site was acquired by a developer.
SevenCapital has taken ownership of Archway Campus from housing association Peabody – though the details of the deal have not been made public – and earmarked it for a scheme including affordable and market-priced private housing.
Plans could also include student accommodation, private and community amenity space, as well as a park. The gross development value will total more than £200million, pending planning approval.
In 2019, Peabody ran consultation events, outlining plans for in the region of 290 new homes.
The site was built 1877-1879 as the Holborn and Finsbury Union Workhouse Infirmary and designed by Henry Saxon Snell & Sons – but has stood empty the past seven years.
SevenCapital is looking to refurbish the existing building and build additional structures in a similar style.
Angus Michie, managing director, said: “This site is of historical and cultural importance.
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“It is incredibly important to us that we bring it back to life in a way that celebrates that whilst also transforming it to be fit for use for current and future generations.
“The area, like much of London, is in need of new, high quality and affordable homes.
"Our plans aim to deliver this, in line with Islington aspirations for the site, and we look forward to working with the borough, the local community and other stakeholders to develop our plans for the site which we hope will form a significant milestone for both the area and for SevenCapital.”
It is one of Mr Michie’s first projects for SevenCapital having joined from Berkeley.
The Archway Campus site deal was helped along by property business Cowell Group.
Nicholas Cowell, chief executive of Cowell Group, said: “It’s been a great pleasure working alongside SevenCapital and with the team at Peabody acquiring this site during this difficult period.
“I have no doubt that SevenCapital will go on to develop this outstanding site and make it the local landmark it deserves to be whilst preserving the heritage of the location.”